The retirement plan sponsors that have signed on for the new service, which mixes target-date funds and annuities, collectively represent more than $7.5 billion in plan assets.
A report from the Urban Institute found Social Security cuts, tax increases, longer working years and higher savings levels are needed to keep retirees from funding crises in the coming years.
RetireOne's contingent deferred annuity for the registered investment adviser market includes about 200 mutual funds, ETFs and model portfolios.
In other cases, claims have been dismissed against several plan sponsors, including Prudential and Eversource Energy.
About 70% of people surveyed said they would choose a job with that feature over a similar one without it, according to a survey by TIAA.
Sales hit $68.2 billion, up by 40% from the second quarter of 2020, according to the Secure Retirement Institute.
A new study from the Center for Retirement Research at Boston College found news reports could lead to misconceptions about Social Security trust funds, and could influence retirement savers to claim earlier than otherwise planned.
States such as California, Oregon and Illinois are requiring small businesses to either provide their own 401(k)s or sign up for the state program — and that is a massive opportunity for startup plans.
The measures would require everyone in the country to receive a portable account at the time they are given a Social Security number.
With the number of small accounts likely to rise as more states adopt auto-IRA programs, the U.S. could benefit from single-account systems, automatic portability and other reforms, Brookings found.
