Defined contribution (DC) retirement plan eligibility and auto portability can have a large impact on reducing retirement savings shortfalls, the Employee Benefit Research Institute (EBRI) found.
Research findings suggest that employers could do a better job of educating employees about benefits that may improve their overall financial security.
EBRI’s Lori Lucas tells PLANSPONSOR National Conference attendees that retirees actually spend less than the industry suggests employees save for retirement, and there are different reasons for that.
Lori Lucas, previously with Callan Associates, tells PLANSPONSOR there is a new vision for the Employee Benefit Research Institute’s future.
Of the HSAs with distributions, the average amount distributed was less than the average contribution, resulting in balance increases, EBRI finds.