It’s no wonder that retirement income is a hot topic among plan sponsors and consultants. With more than 11,000 Americans reaching the traditional retirement age daily,1 and 83% of them planning to use their employer plan as their primary source of retirement income,2 the pressure is on. What can sponsors do to help their employees who are shifting from saving to spending retire with the confidence that their savings will last?
In our latest research, we find that taking a comprehensive approach—one that factors in plan design, products, and services—and activating it with a strong suite of solutions equip both plan sponsors and participants to confidently navigate retirement income.
Sources
1 Welcome to the Peak 65 Zone - A New Chapter in America's Retirement Landscape. Alliance for Lifetime Income, 2024. https://www.protectedincome.org/peak65/.
2 Data from Invesco's 2021 DC language study, Watch Your Language, which included 997 U.S. large plan participants.
Notes
- All investing is subject to risk, including the possible loss of the money you invest. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Product guarantees are subject to the claims-paying ability of the issuing insurance company.
- Diversification does not ensure a profit or protect against a loss.
- Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.
