"Three-quarters of participants in their twenties had more than 80 percent of their 401(k) plan accounts invested in equities at year-end 2018 ... At year-end 2018, 19 percent of all 401(k) participants who were eligible for loans had loans outstanding against their 401(k) plan accounts, unchanged since 2016."

11 pages. "[1] Expand opportunities to save for retirement ... [2] Facilitate and expand the use of protected, guaranteed lifetime income ... [3] Preserve and promote access for retirement savers to professional financial guidance ... [4] Enhance protections to safeguard Americans from financial exploitation and fraud; and [5] Maintain and augment the current tax treatment of retirement savings"

"Although many sponsors will welcome the funding relief in ARPA, in its current form that legislation does present some technical issues, mainly due to the early/retroactive effective dates of some proposals."

"Managed account services may also include retirement income planning and payout strategies. It's a powerful combination that may lead to better retirement results and more peace-of-mind for participants approaching retirement."

"Some changes are required, others are optional. Some provisions have tight deadlines. Others give you more breathing room. And, relevance depends on your plan and its pool of participants and variations like numbers of full- to part-time workers."

"If this relationship between (older, lower) lump sum valuation rates and current rates continues for the rest of 2021 ... paying out a lump sum in 2022 will generally be a 'better deal' for the sponsor than paying it out in 2021. And second, if a lump sum is paid out in 2021, the additional cost (resulting from the use of the older, lower valuation rate) will show up as an increase in balance sheet net liabilities."

"There are over 26 million owner-only businesses in the nation today.... Consistently profitable owner-only businesses are uniquely suited for cash balance plans, as well as traditional average pay defined benefit plans."

"[By] the fourth quarter of 2020, the average person in their 20s had $15,000 saved in their 401(k), with that number then jumping to $50,800 for Americans in their 30s. For people in their 40s, 401(k) savings reached an average of $120,800, with that number getting all the way to $203,600 for those in their 50s."

"[W]hile software could ideally help speed up the process for advisors and provide some more relevant long-term metrics, the most fundamental advantages of the probability-of-success-driven guardrails approach involve managing shorter-term expectations[.]"

"Nearly three out of five institutions report increased demand for investment and in-plan retirement income opportunities and one in four report an increased need for access to professionally managed accounts."

"[T]he GoP is much like the MEP and the PEP, requiring much of the same sort of 'meptech' data aggregation technology, but without the difficulties of merging and spinning off of plans under MEPs and PEPs.... Plans will eventually have 3 valuable alternatives from which to choose, should they be considering joining an aggregation arrangement."

"Compliance requires participation not be limited to high-net-worth individuals. However, if plan sponsors focus too much on merely getting employees to not opt-out, are they then sacrificing the more meaningful goal of saving an adequate amount? To fully appreciate this, you need to understand what happened with the OregonSaves program."

"The 4% rule ... has been widely adopted by financial advisors and individual investors.... Assuming that future market returns are lower than in the past, an initial withdrawal rate closer to 3.5% looks like a reasonable starting point."

12 pages. "Mean account balances for public plan participants in their 60s reach just over $96,000; median account balances top out at nearly $32,000.... Loan use peaks at 7.3% for public plan participants in their 40s.... The use of target-date funds is significantly higher by participants in their 20s (~63%)."

"On average, men and women who reach the standard retirement age of 65 can anticipate living into their eighties ... [O]ptions include taking advantage of catch-up provisions to maximize tax-advantaged savings options, saving more beyond retirement accounts, and delaying retirement."

"Those who reportedly log in to mobile platforms at least once a month tend to have a higher salary deferral rate, with 39% of these respondents contributing at least 11%.... [R]espondents (23%) who log in less than once per month ... mostly contribute 3%-6% (41%)."

36 pages. "A majority of respondents ... opposed proposals to require a portion of retirement accounts to be converted into a fair contract promising them income for life from either the government or an insurance company."

14 pages. "This report explores the potential impact states will face should lawmakers decide to convert new public employees from a defined-benefit pension plan to a defined-contribution 401(k) retirement plan as a budget-saving measure."

"These companies provide a generous 401(k) match to employees."

"More than two-thirds (68%) of retired respondents said they retired earlier than expected ... Nearly seven in 10 (69%) Americans (age 21+ in 2007) said they believe the COVID-19 pandemic will have a greater overall economic impact than the Great Recession (2007-2009), with retired respondents feeling most adamant (86%, versus 69% for near-retired and 68% for pre-retired)."

"[M]ore than three in ten employees say they increased their retirement savings contributions in the last year ... 80 percent of employees who have guaranteed lifetime income in retirement -- like an in-plan annuity -- say they feel confident in their progress toward their long-term savings goals, compared to 45 percent of those who do not have a source of guaranteed lifetime income."

"[In] the most recent month-to-month data, all three programs are growing in assets and the number of employers registered and funded accounts. Deferral rates in all three are holding steady. The amount withdrawn, as well as the number of accounts making withdrawals, also has grown. The growth in all these programs, in all these areas, was pronounced in the fourth quarter of 2020."

"The ability to offer open 401k PEPs presents a game-changing advantage to all those involved, from service provider to plan sponsor to plan participant.... Just like any other alternative, it's critical the fiduciary embrace the positives and negatives of all options, and the PEP is certainly a viable option."

"Nearly two-thirds (64%) of respondents said the pandemic has not changed their retirement date. Less than one in 10 (8.3%) reported that the pandemic has changed their retirement date to later than they planned, and 16.7% said they will be retiring earlier than planned. Only 2.8% said they never plan to retire, and 8.3% reported they don't know if the pandemic changed their retirement date."

"The top areas of fiduciary focus [in 2020] were governance and process; investment structure evaluation; and fund/manager due diligence. Fiduciary actions planned for 2021 include a review of plan fees; completing formal fiduciary training; and implementing, updating, or reviewing the investment policy statement."