Retirement plans—whether defined benefit (DB) or defined contribution (DC)—play a vital role in helping individuals accumulate money to spend in their golden years. The purpose of retirement plans has historically been to attract and retain employees while providing these individuals with a vehicle that promotes financial security after exiting the workforce.
In the fall of 2013, Aon Hewitt surveyed over 400 plan sponsors representing nearly 10 million participants to gauge current and future retirement perspectives. We found two key goals have emerged for retirement plans:
Together, these goals indicate employers have moved beyond the tactical viewpoint and instead are taking a far more strategic perspective by looking at how retirement plans fit into the greater goals of the organization.
Read the Highlights or download the Full Report to learn more and gain important insights on retirement plan management and oversight.