One of the largest unsolved problems for workers in the United States today is providing adequate funding for retirement. A low- to middle-income American earning less than $20 an hour with no access to workplace-based savings options is likely to fall short of their retirement savings by $200-300K. This may impact their monthly retirement income by $1,500 to $2,000, making a huge difference in their quality of life. There are nearly 40-50 million such Americans working for ~30 million small businesses with less than 100 employees who have no access to workplace-based savings options.
With the SECURE Act going into effect on January 1st, 2021, the time is ripe for retirement providers to start building execution plans that can maximize the likelihood of success when offering pooled employer plans.
Read our whitepaper to learn more about the redesigned operating models and how they must accommodate user journeys for employers, employees, participants, and financial advisors.