The biggest trend for retirement savings programs in 2024 may be a new push for solutions that provide income for retirees, a new report said. The Institutional Retirement Income Council (IRIC), a non-profit think tank for the retirement income community, recently released its annual list of top retirement industry trends for plan sponsors, providers and advisors to watch in 2024, and retirement income solutions topped the list.

The report noted an increasing demand for such solutions, as well as these retirement trends:

• a general move toward customized and personalized investment plans,
• more automatic features such as auto-enrollment, and
• better employee education and communication.

But providing innovation in defined contribution (DC) offerings so that there are more options for retirement income is probably at the top of the list, according to Michelle Richter-Gordon, executive director of IRIC.