Building a Better Plan for Employees Nearing Retirement

This white paper discusses how adding a specialized plan tier can help support the unique needs of older workers.

A growing body of evidence shows that older workers are distinctly different than their younger peers. Unfortunately, retirement plans are often a one size fits all solution, treating the two groups as though they are the same.

Instead, employers and advisors may want to consider developing a retirement tier: a suite of tools, services and plan design modifications that help older workers position their finances wisely as they approach retirement. Part of this program may include shifting older employees out of target date funds and into another qualified default investment alternative (QDIA) that is tailored specifically to their needs.

This white paper, created in partnership with Empower Retirement, discusses the unique challenges faced by older workers, and how to create a retirement tier that meets their needs.


Important Legal Information

This material has been prepared for informational and educational purposes only and is not intended to provide investment, le gal or tax advice . Empower is a marketing name of Great West Life & Annuity Insurance Company.

The research, views and opinions contained in these materials are intended to be educational, may not be suitable for all investo rs and are not tax, legal, accounting or investment advice. Readers are advised to seek their own tax, legal, accounting and investment advice from competent professionals. Information contained herein is believed to be accurate at the time of publication; however, it may be impacted by changes in the tax, legal, regulatory or investing environment.

The Empower Institute is brought to you by Empower Retirement to critically examine investment theories, retirement strategie s and assumptions . It suggests theories and changes for achieving better outcomes for employers, institutions, financial advisors and individual investors.

Franklin Templeton is not affiliated with Empower Retirement

The charts, graphs and screen prints in this presentation are for ILLUSTRATIVE PURPOSES ONLY.