When it comes to retirement, most people aren't.
Studies show that some 75% of all Americans reaching retirement age have less than $30,000 socked away to take them through their golden years. And when you consider that people will need about twenty times their annual income to maintain their standard of living, for those folks the future looks bleak indeed.
In recent years, retirement plan sponsors and plan providers have been evaluating the effects of a low interest rate environment on participants' retirement income adequacy. In many cases, sponsors have begun exploring plan design strategies that encourage participants to save more for retirement. One of the strategies being discussed is restructuring employer matching contributions.