PLANSPONSOR - December 2018/January 2019 - 50

PARTICIPANT ANALYSIS
Fragmented Savings
Many near-retirees have retirement savings spread across accounts
B
ased on well-known participant
savings rates, many plan sponsors
have been concerned that
their employees will be unable to retire as
planned-and that their working longer
could cost upward of $50,000 per person,
as recent data from MassMutual has
found. But the reality may be quite different
than what plan sponsors expect.
Recordkeepers have expended many
resources to create plan and participantlevel
benchmarks that assess how well
a given plan is doing to help its participants-according
to their unique demographics-meet
their savings goals. For
perhaps no group is this more important
than the generation approaching retirement:
the Baby Boomers.
Yet, according to data gathered by
the 2018 PLANSPONSOR Participant
Survey, those metrics provide an inaccurate
assessment. Specifically, how can
plan sponsors realistically reconcile a preretiree's,
or any employee's, retirement
readiness when he has only informed his
employer about a portion of his assets?
An analysis of data for respondents
ages 50 through 75 who are full- or parttime
workers and currently contribute to
an employer retirement plan shows they
not only have savings in that plan but also
somewhere else-sometimes in multiple
places-in varying amounts.
By looking at the breakdown of types
of accounts that could contribute to an
employee's overall retirement savings
profile, it is clear how difficult it would be
for sponsors or their providers to pinpoint
a participant's retirement readiness.
A participant's total savings for
retirement was calculated from all of
his household's retirement accounts-
including current employer-sponsored
retirement savings plans, previous
defined contribution accounts, individual
48 PLANSPONSOR.com December 2018 - January 2019 Art by Peter Ryan

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PLANSPONSOR - December 2018/January 2019

Table of Contents for the Digital Edition of PLANSPONSOR - December 2018/January 2019

PLANSPONSOR - December 2018/January 2019 - Cover1
PLANSPONSOR - December 2018/January 2019 - Cover2
PLANSPONSOR - December 2018/January 2019 - 1
PLANSPONSOR - December 2018/January 2019 - 2
PLANSPONSOR - December 2018/January 2019 - 3
PLANSPONSOR - December 2018/January 2019 - 4
PLANSPONSOR - December 2018/January 2019 - 5
PLANSPONSOR - December 2018/January 2019 - 6
PLANSPONSOR - December 2018/January 2019 - 7
PLANSPONSOR - December 2018/January 2019 - 8
PLANSPONSOR - December 2018/January 2019 - 9
PLANSPONSOR - December 2018/January 2019 - 10
PLANSPONSOR - December 2018/January 2019 - 11
PLANSPONSOR - December 2018/January 2019 - 12
PLANSPONSOR - December 2018/January 2019 - 13
PLANSPONSOR - December 2018/January 2019 - 14
PLANSPONSOR - December 2018/January 2019 - 15
PLANSPONSOR - December 2018/January 2019 - 16
PLANSPONSOR - December 2018/January 2019 - 17
PLANSPONSOR - December 2018/January 2019 - 18
PLANSPONSOR - December 2018/January 2019 - 19
PLANSPONSOR - December 2018/January 2019 - 20
PLANSPONSOR - December 2018/January 2019 - 21
PLANSPONSOR - December 2018/January 2019 - 22
PLANSPONSOR - December 2018/January 2019 - 23
PLANSPONSOR - December 2018/January 2019 - 24
PLANSPONSOR - December 2018/January 2019 - 25
PLANSPONSOR - December 2018/January 2019 - 26
PLANSPONSOR - December 2018/January 2019 - 27
PLANSPONSOR - December 2018/January 2019 - 28
PLANSPONSOR - December 2018/January 2019 - 29
PLANSPONSOR - December 2018/January 2019 - 30
PLANSPONSOR - December 2018/January 2019 - 31
PLANSPONSOR - December 2018/January 2019 - 32
PLANSPONSOR - December 2018/January 2019 - 33
PLANSPONSOR - December 2018/January 2019 - 34
PLANSPONSOR - December 2018/January 2019 - 35
PLANSPONSOR - December 2018/January 2019 - 36
PLANSPONSOR - December 2018/January 2019 - 37
PLANSPONSOR - December 2018/January 2019 - 38
PLANSPONSOR - December 2018/January 2019 - 39
PLANSPONSOR - December 2018/January 2019 - 40
PLANSPONSOR - December 2018/January 2019 - 41
PLANSPONSOR - December 2018/January 2019 - 42
PLANSPONSOR - December 2018/January 2019 - 43
PLANSPONSOR - December 2018/January 2019 - 44
PLANSPONSOR - December 2018/January 2019 - 45
PLANSPONSOR - December 2018/January 2019 - 46
PLANSPONSOR - December 2018/January 2019 - 47
PLANSPONSOR - December 2018/January 2019 - 48
PLANSPONSOR - December 2018/January 2019 - 49
PLANSPONSOR - December 2018/January 2019 - 50
PLANSPONSOR - December 2018/January 2019 - 51
PLANSPONSOR - December 2018/January 2019 - 52
PLANSPONSOR - December 2018/January 2019 - 53
PLANSPONSOR - December 2018/January 2019 - 54
PLANSPONSOR - December 2018/January 2019 - 55
PLANSPONSOR - December 2018/January 2019 - 56
PLANSPONSOR - December 2018/January 2019 - 57
PLANSPONSOR - December 2018/January 2019 - 58
PLANSPONSOR - December 2018/January 2019 - Cover3
PLANSPONSOR - December 2018/January 2019 - Cover4
https://www.plansponsordigital.com/plansponsor/march_april_2024
https://www.plansponsordigital.com/plansponsor/january_february_2024
https://www.plansponsordigital.com/plansponsor/november_december_2023
https://www.plansponsordigital.com/plansponsor/september_october_2023
https://www.plansponsordigital.com/plansponsor/july_august_2023
https://www.plansponsordigital.com/plansponsor/may_june_2023
https://www.plansponsordigital.com/plansponsor/march_april_2023
https://www.plansponsordigital.com/plansponsor/december_2022_february_2023
https://www.plansponsordigital.com/plansponsor/october_november_2022
https://www.plansponsordigital.com/plansponsor/august_september_2022
https://www.plansponsordigital.com/plansponsor/june_july_2022
https://www.plansponsordigital.com/plansponsor/excellenceawards_2022
https://www.plansponsordigital.com/plansponsor/april_may_2022
https://www.plansponsordigital.com/plansponsor/february_march_2022
https://www.plansponsordigital.com/plansponsor/december_2021_january_2022
https://www.plansponsordigital.com/plansponsor/october_november_2021
https://www.plansponsordigital.com/plansponsor/august_september_2021
https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
https://www.plansponsordigital.com/plansponsor/december-january_2021
https://www.plansponsordigital.com/plansponsor/october-november_2020
https://www.plansponsordigital.com/plansponsor/august-september_2020
https://www.plansponsordigital.com/plansponsor/june-july_2020
https://www.plansponsordigital.com/plansponsor/april-may_2020
https://www.plansponsordigital.com/plansponsor/february-march_2020
https://www.plansponsordigital.com/plansponsor/december-january_2020
https://www.plansponsordigital.com/plansponsor/october-november_2019
https://www.plansponsordigital.com/plansponsor/august-september_2019
https://www.plansponsordigital.com/plansponsor/june-july_2019
https://www.plansponsordigital.com/plansponsor/april-may_2019
https://www.plansponsordigital.com/plansponsor/february-march_2019
https://www.plansponsordigital.com/plansponsor/december_2018-january_2019
https://www.plansponsordigital.com/plansponsor/october-november_2018
https://www.plansponsordigital.com/plansponsor/august-september_2018
https://www.plansponsordigital.com/plansponsor/june-july_2018
https://www.plansponsordigital.com/plansponsor/april-may_2018
https://www.plansponsordigital.com/plansponsor/february-march_2018
https://www.plansponsordigital.com/plansponsor/december_2017-january_2018
https://www.plansponsordigital.com/plansponsor/november_december_2017
https://www.plansponsordigital.com/plansponsor/october_2017
https://www.plansponsordigital.com/plansponsor/september_2017
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