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U.S. Retirement Market Outlook
Three themes shaping the U.S. retirement landscape.
2023 Defined Contribution Consultant Research Study
Our third annual study captures retirement views from the defined contribution consulting and advisory community.
Investments
Target Date 20th Anniversary
Celebrating our decades-long passion for helping turn retirement dreams into reality.
Global Market Outlook
Tectonic shifts create new opportunities.
Artificial intelligence: The new electricity
AI has the potential to be the biggest productivity enhancer to the global economy since the rise of electricity.
Insights
Global Market Outlook
Tectonic shifts create new opportunities.
2023 Defined Contribution Consultant Research Study
Our third annual study captures retirement views from the defined contribution consulting and advisory community.
Compliance Support
Qualified plan limits
In October 2023, the Internal Revenue Service released the 2024 dollar limits on certain benefits and contributions to retirement plans and IRAs.
Legislative and regulatory webinars
Stay current on the latest news: watch our legislative and regulatory webinars on demand.
New Retirement Savings and Spending Study
Financial wellness is critical—regardless of age, race, or ethnicity.
In our latest survey of 401(k) participants, we found that financial wellness is imperative to address social inequity, the prioritization of competing financial goals, and long-term retiree success.
Helping Savers Stay Focused on Retirement
Financial wellness can help with prioritizing competing financial goals.
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Financial Wellness Through the Lens of Race and Ethnicity
Employers have an opportunity to promote diversity, equity, and inclusion in defined contribution plans and help address broader social inequality.
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Financial Wellness in Retirement
Employers can help plan participants navigate retirement planning, while also supporting retirees as they face new financial decisions.
Read More Below
Helping Savers Stay Focused on Retirement
Financial wellness can help with prioritizing competing financial goals.
Key Insights
- Savers today struggle with making the connection between their current financial choices and secure retirements.
- Confidence about retirement declines as retirement approaches.
- Reinforcing the value of positive financial actions taken today will improve confidence and retirement outcomes.
Hypothetical Lifestage Financial Goals of Workers
Priorities that compete with retirement for today's dollars.
Financial Wellness Through the Lens of Race and Ethnicity
Employers have an opportunity to promote diversity, equity, and inclusion in defined contribution plans and help address broader social inequality.
Key Insights
- Societal inequality found in the broader labor market is also present in retirement savings.
- Black and Latinx retirement savers are more likely to have debt and less likely to own homes than white savers.
- Defined contribution (DC) plans such as 401(k)s are one of the few places where access to advice, guidance, and education in support of lifetime financial goals is supported equally.
Among those who have access to 401(k)s, 81% of the heads of white households participate in a DC plan compared with 70% of Black and 63% of Latinx heads of households.
Financial Wellness in Retirement
Employers can help plan participants navigate retirement planning, while also supporting retirees as they face new financial decisions.
Key Insights
- Discussions of financial wellness have often focused on retirement planning; however, financial wellness also matters in retirement.
- Retirees may still need guidance in making the right financial choices as they pivot from a saving to a spending mindset.
- Retirees are more confident about their finances in retirement than preretirees.
About Our Study
The Retirement Savings and Spending Study was conducted by NMG Consulting on behalf of T. Rowe Price and included a sample of 3,420 401(k) retirement plan participants, 631 participants not eligible to participate in a 401(k) plan, and 1,007 retirees with a Rollover IRA or left-in-plan balance. The survey was fielded online from June 5 to June 24, 2020.