While not all 401(k) plan sponsors are prioritizing retirement income, they are significantly more likely to have a view on retirement income compared to prior years, according to T. Rowe Price's 4th annual Defined Contribution Consultant Study.
The annual study suggests more DC plan sponsors are taking a stance on retirement income. In 2021, consultants and advisors described greater than half (59%) of their DC plan sponsor clients as not having a stated opinion on retirement income. In 2024, this same figure declined to 19%.
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