Retirement Advisor

These personalized, age-based platforms incorporate interactive tools and behavioral nudges, such as alerting plan participants to make catch-up contributions at age 50, as they gently steer participants towards retirement goals.

Younger workers are notably behind other age groups, with only 17% having saved between $5,000 and $50,000 – and employers have a critical opportunity to address the retirement readiness gap, says a new study.

A caregiver-friendly environment – group discussions that can provide emotional support and offer best practices and training classes, either in person or online - can help educate employees who might be new to the caregiver role.

Retirement plans in the workplace are shifting towards emotional and behavioral engagement as key factors for success, as advisors are realizing the importance of connecting with participants on a deeper level.

More than one-third of millennials, who've benefitted from auto-enrollment and auto-escalation, believe they won't get a dime of Social Security when they retire, so they're taking matters into their own hands.

Following record-high sales in 2022, first half 2023 sales of annuities (which now include free withdrawal provisions) jumped 28% to $182.7 billion, the highest ever recorded in the first 6 months of a year, according to LIMRA.

Corporations stepped up caregiving resources during the pandemic by offering child and elder care assistance and critical illness benefits - and managed retirement accounts can also help caregivers make saving adjustments.

SECURE 2.0 increases the cap for mandatory force-outs on account balances from $5,000 to $7,000 after December 31, 2023, however, plan sponsors may want to have more assets in the plan to lower fees for all participants.