Through the first three quarters of 2021, only 1.2% of defined-contribution plan participants stopped contributing to their plans, according to data from recordkeepers collected by the Investment Company Institute.
That minor fall-off compares with the 2.2% of participants who stopped contributing to plans in the first three quarters of 2020, and the 5.0% who stopped contributing in the similar period of 2009, another time of financial market stress.
The ICI figures are based on DC plan record-keeper data covering more than 30 million participant accounts in employer-based DC plans at the end of September 2021. DC plan withdrawals in the first three quarters of 2021 remained low, but slightly higher than activity observed in recent years, ICI said.
TIAA survey finds 53% of Americans worry about running out of money, as AI and medical advances scramble retirement income planning.
Two wirehouse veterans choose advisor-owned model as independents target ultra-high-net-worth clients beyond portfolio management.
Guardian's Nancy DeRusso tells InvestmentNews how advisors can help close the 'longevity gap'.
Goldman Sachs retirement survey finds 83% want guaranteed income, while the annuities providing that income increasingly hold private credit.
The AI meeting assistant's Advisor Intelligence plugin turns client conversation data into annual reviews, tax scans and attrition alerts.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
