If you look at headlines in the retirement industry trade press, rarely does a week go by when you don’t see an article lamenting the low retirement savings numbers. How do we change this?
Ironically, while some see lowering the savings limit as politically palatable because it impacts only a small segment of the population, that same fact reduces the effect of such a policy shift.
As long as the fiduciary ball remains in the Executive Branch’s court, it’s easy to predict what will happen. That doesn’t mean, however, that we won’t see some surprises coming from the Legislative Branch.
Think of the third party as the food truck in the parking lot. Employees will see it and decide for themselves whether to engage with it.
The fact Social Security was already collecting this information, albeit not in a database, raises the question of whether this new lost and found database will add any real value.
