In this episode of the 401(k) Specialist Podcast, we’ll travel down the road to better participant outcomes with MFS Investment Management’s Jeri Savage, who will direct us through the key insights from the newly released 2024 MFS Global Retirement Survey.
Savage, Lead Retirement Strategist at Boston-based MFS, elaborates on some of the most impactful findings and explores how advisors and plan sponsors can help participants prioritize savings, improve retirement readiness, and navigate the complexities of target date funds.
Key Insights:
Target Date Fund Misunderstandings: Addressing misconceptions, especially the belief that target date funds guarantee income, will drive better participant outcomes.
Retirement Concerns: The 2024 MFS Global Retirement Survey shows that three-quarters of participants feel they need to save more to achieve better participant outcomes in retirement.
Competing Financial Priorities: Younger generations face significant financial challenges, like student loans, making it harder to focus on saving for retirement, which impacts better participant outcomes.
The views expressed are subject to change at any time. These views are for informational purposes only and should not be relied upon as a recommendation to purchase any security or as a solicitation or investment advice from the Advisor.
