Plan sponsors are interested to provide employees a retirement offering that can automatically adjust for life changes, as well as market shifts, to help ensure they have enough income in retirement, according to plan provider TIAA.
In a pulse survey of 80 plan sponsors released July 20, TIAA found that plan sponsors are looking for a combination of automatic enrollment and adjustments, immediate employer vesting and lower fees. Plan sponsors also feel that participants lack education and interest in retirement plans, and plan sponsors are looking for a combination of provider and human resource focus to improve engagement.
“The average participant […]
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