Wednesday, March 6th, 2024 A topical newsletter from PLANSPONSOR Retirement Preparedness Information and news for plan sponsors on issues impacting participant retirement preparedness. SPONSORED AD Data and Research HBCU Employees Lag Behind in Retirement Assets Due to lower levels of participation and contributions, conservative investing and retirement plan leakage, employees at historically Black colleges and universities struggle with lower balances, according to TIAA. Investing PGIM: Core Menu Should Reflect Investment Needs of Older Participants Because equity funds tend to dominate core investment menus, PGIM argues in a new paper that there is a need for more fixed-income and conservative funds. Data and Research Gen Z Outpaces Previous Generations in Retirement Savings The youngest generation in the workforce has saved almost three times the amount Gen X households had saved in defined contribution plans at the same age, according to ICI data. Products BlackRock Prepares LifePath Paycheck to Address In-Plan Retirement Income The retirement income solution functions like a target-date fund, embedding the option to annuitize a portion of a participant’s assets starting at age 55. Products New Income Planning Tool to Advise Retirees on How Much to Withdraw Michael Finke and Tamiko Toland announced the launch of IncomePath—a tool to help retirees visualize what they can spend in retirement, while factoring in investment risk, annuity options and life expectancy. Benefits Four Sponsors Add Fidelity’s Student Loan Debt Repayment Matching Benefit A luxury goods company, media company, beauty retailer and media and entertainment company are all employers implementing student loan debt repayment matching this year.   Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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