Data Mine

The retirement plan industry is flush with data points and analyses. In this edition of Data Mine, we have dug out the most useful findings from a range of published works.

Art by Jennifer Xiao


Survey

Lifetime Income Solutions—Progress, With Work Ahead

Published by Willis Towers Watson

Key Findings
  • 75%  of employers say they are too complex for them and their recordkeepers to administer
  • 61%  say fees are too high
  • 60%  say the products themselves are too complex
  • 58%  say they fear there may be restrictions in portability for departing employees
  • 55%  say they are not transparent
  • 52%  say their workers just are not demanding these options

Full survey available here.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Related PLANADVISER Coverage

Survey

Viability of the Spend Safely in Retirement Strategy

Published by Society of Actuaries’ Committee on Post Retirement Needs and Risks

Key Findings

The research elucidates the “Spend Safely strategy,” meant to address longevity risk. In addition, the report discusses possible refinements to the baseline strategy to address specific goals and circumstances, such as uneven expense and income flows, or alternative patterns of retirement income. Full survey available here.

Full survey available here.

Related PLANADVISER Coverage

Survey

Age and Job Fit

Published by Journal of Occupational Health Psychology

Key Findings

Having reasoning abilities that match the demands of a job is important to the positive experience of work in older age. Reasoning abilities decline with age, so organizations must be aware of how employee health can be negatively affected by the demands placed upon an employee. Full survey available here.

Full survey available here.

Related PLANADVISER Coverage

Survey

Examining the Experiences of States that Closed Pension Plans

Published by National Institute on Retirement Security

Key Findings

Switching from a defined benefit pension plan to a defined contribution or cash balance plan did not address existing pension underfunding as promised. Instead, costs for four states analyzed increased after closing the pension plan.

Full survey available here.

Related PLANADVISER Coverage

Survey

Do Defaults Have Spillover Effects?

Published by National Bureau for Economic Research

Key Findings

While automatic enrollment dramatically increases participation in defined contribution (DC) plans, it comes at the cost of higher persistence by employees at the default contribution rate, which are often set at a rate that does not maximize the match from the employer and may not maintain an adequate level of consumption into retirement.

Full survey available here.

Related PLANADVISER Coverage

Survey

Employee Financial Wellness Survey

Published by PwC

Key Findings
  • 34% say not being stressed about their finances
  • 18% say being debt-free
  • 16% say having money to cover unexpected expenses
  • 16% say having the financial freedom to make choices to enjoy life
  • 12% said being able to meet day-to-day expenses

Full survey available here.

Related PLANADVISER Coverage

«