As traditional defined benefit plans go the way of the dinosaur and 401(k) plans take their place, plan sponsors should keep an eye on the next 15 years as the first generation of workers who will rely most on their 401(k)s to fund their retirements begin to turn 65.
Even with auto enrollment and auto escalation tools, retirement readiness remains a concern. More than three-quarters of large and midsize U.S. employers that sponsor 401(k) and 403(b) plans say retirement readiness has become a major issue for their employees, according to research from consulting firm Towers Watson.
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