There’s no denying that Americans today are shouldering greater responsibility for their retirement security than ever before.
With uncertainty around the future of Social Security, the increasing costs associated with living longer, and the fact that people are not saving enough, the average worker faces the growing risk that they will not have the income they need to meet their retirement goals.
Although employer-sponsored retirement programs, such as a 401(k), do their best to keep participants moving in the right direction, recent research from Voya Financial’s Behavioral Finance Institute for Innovation found that 90 percent of workplace savings plans were not “on track” to replace an average of 70 percent of their participants’ working income, a standard industry benchmark for measuring retirement readiness.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
