Question: Our advisor has been encouraging us to add a retirement income solution to our plan in 2025. We feel it’s important, but is there any recent data to help us with prioritizing this effort?
Answer: According to Black Rock’s 2024 Read on Retirement report, 60% of employees (across all generations) worry they will outlive their retirement savings. Of those, 80% say it is negatively impacting their mental health. Ninety- three percent say knowing they would have guaranteed retirement income would improve their mental health right now. The Black Rock survey also revealed that “adding investment options that provide the option for secure income” is the top single change plan sponsors
said could improve future employee retirement outcomes. In addition, a retirement income planning tool is the top workplace benefit sponsors believe will attract and retain talent in the current environment.
