While they value financial independence, younger generations are drawn to high-risk investments, such as cryptocurrency, in pursuit of quick returns rather than long-term savings.
In the competition for talent, employers look to provide benefits that are most valuable to today’s workforce in a cost-effective way. As such, the economic value of benefits programs are front and center for employers.
Expect a growing wave of innovation and adoption of in-plan retirement income solutions for 401(k) plans, reflecting the increased interest of plan sponsors, providers and participants, according to the Institutional Retirement Income Council.