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.