How Plan Design Really Affects Retirement Readiness

Today, the aggregate retirement savings shortfall — that is, the projected amount lacking to provide adequate retirement income for all Baby Boomers and Gen Xers when they turn 65 — is a staggering $4.3 trillion. The key to closing that gap is, of course, employer-based plans. For those who love deep-diving into some solid data from a reputable source — especially in light of the impending debate over the tax incentives that encourage employees to contribute to workplace plans — EBRI’s Nevin Adams and Jack VanDerhei offer an excellent article in The Milken Institute Review. Their primary focus: the impact of plan design on retirement readiness. Bring your snorkel and fins.