Credit: WrightStudiov/stock.adobe.com
Engaging plan participants in retirement planning has been a persistent challenge for plan sponsors, and thus increased engagement is often a top priority, as noted in the Plan Sponsor Council of America's yearly survey. Hindered in part by a lack of financial awareness and literacy, many individuals fail to grasp the importance of saving for retirement, creating an uphill battle for themselves and plan sponsors. Let's delve into the enduring hurdles that plan sponsors face and explore the transformative potential of timely, age-based advice, as delivered by advicetech platforms, to help plan sponsors and participants overcome these challenges.
The tailoring of timely, age-based advice
Central to engaging participants in their retirement planning is delivering age-specific advice at the appropriate time, tailored to align with pivotal life events and financial milestones. As individuals move through life, the financial advice they receive should evolve to meet their shifting needs and opportunities – age-based advice like this is predictable and can be automated. For example, when workers turn 50, they can make catch-up contributions in certain retirement funds, and thus increase their tax-advantaged savings and investing rate.
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.
