JP Morgan Analysis Says Corporate Defined Benefit Pension Plans Deserve A Fresh Look
In a Forbes column, NIRS Executive Director Dan Doonan writes Corporate retirement plan sponsors reevaluating their benefit packages have a variety of retirement products available to them, including defined benefit pension plans. In fact, some companies may already have an existing “frozen” or closed pension plan on their balance sheet.
In fact, a JP Morgan Asset Management analysis, recent legislation and economic conditions created a more favorable environment for corporate pension plans.
Pensions Support a Stable, Experienced Public-Sector Workforce
Public pensions help government employers retain experienced career workers, reducing costly turnover and supporting the reliable delivery of essential public services, according to a report, Workforce Turnover and Retention in the Public Sector: Insights from Public Pension Plans. The research finds that while employee departures are concentrated in the first five years of service, retention is strong among workers who remain beyond that point.
80% of Americans Say U.S. Faces Retirement Crisis Amid Affordability Pressures and Debt
National polling research from the National Institute on Retirement Security finds that 80 percent of Americans believe the nation faces a retirement crisis, as rising costs, debt, and other affordability pressures make it harder to save. The survey also finds widespread caution about AI-generated financial advice and cryptocurrency in workplace retirement plans, while 85 percent say Washington should make retirement security a higher national priority.
