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Younger workers focused on retirement income projections

Younger retirement plan participants are increasingly expecting to see metrics that assist them in seeing how successful they are at saving, Cerulli research shows.

By Marlene Y. Satter | Updated on September 23, 2016
Younger workers see projected monthly income as the most important information on their retirement plan statement. (Photo: Getty)

Defined contribution plans may be moving toward offering more options for retirement income, as they transition to decumulation vehicles, but they have a way to go in reaching targets that their younger participants may be expecting.

According to new Cerulli research, recordkeepers are becoming somewhat more focused on emphasizing to their defined contribution plan clients outcome-related metrics, such as retirement income replacement ratio and projected participant shortfall or surplus, that help to see how successful participants are in the decumulation phase.

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