Large employers, while somewhat out of touch with employees’ needs with respect to current retirement savings, are beginning to pay a lot of attention to their ultimate income requirements in retirement. More than two-thirds (69%) of plan sponsors polled by BlackRock “agree that there’s a growing need for DC plans to provide retirement income solutions and services,” according to the company.
The survey of 1,003 defined contribution plan participants and 200 sponsors released Feb. 24 by the asset manager also found that about half (51%) already do provide some form of income solution.
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