J.P. Morgan Asset Management Survey Unveils Growing Demand for Improved Retirement Income Support Among Plan Participants

PR Newswire07-25

Nearly 80% of Plan Participants Worry About Securing Lifetime Retirement Income NEW YORK, July 24, 2024 /PRNewswire/ -- J.P. Morgan Asset Management today released its 2024 Defined Contribution (DC) ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2454588027?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/0Swz8Iyz0D8CDWio_QeiZw--~B/aD0xNjk7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/prnewswire.com/9a68084389de9c59e739f02017bf0251","is_english":true,"pubTime":"2024-07-25 00:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2454588027","market":"us","top_or_hot":-1,"title":"J.P. Morgan Asset Management Survey Unveils Growing Demand for Improved Retirement Income Support Among Plan Participants","media":"PR Newswire","content":"<div>\n<p>Nearly 80% of Plan Participants Worry About Securing Lifetime Retirement Income\nNEW YORK, July 24, 2024 /PRNewswire/ -- J.P. Morgan Asset Management today released its 2024 Defined Contribution (DC) ...</p>\n\n<a href=\"https://finance.yahoo.com/news/j-p-morgan-asset-management-160000390.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>J.P. Morgan Asset Management Survey Unveils Growing Demand for Improved Retirement Income Support Among Plan Participants</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJ.P. Morgan Asset Management Survey Unveils Growing Demand for Improved Retirement Income Support Among Plan Participants\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-25 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/j-p-morgan-asset-management-160000390.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nearly 80% of Plan Participants Worry About Securing Lifetime Retirement Income\nNEW YORK, July 24, 2024 /PRNewswire/ -- J.P. Morgan Asset Management today released its 2024 Defined Contribution (DC) ...</p>\n\n<a href=\"https://finance.yahoo.com/news/j-p-morgan-asset-management-160000390.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://finance.yahoo.com/news/j-p-morgan-asset-management-160000390.html","article_id":"2454588027","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0Swz8Iyz0D8CDWio_QeiZw--~B/aD0xNjk7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/prnewswire.com/9a68084389de9c59e739f02017bf0251"],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/j-p-morgan-asset-management-160000390.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2454588027","pubTimestamp":1721836800,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Nearly 80% of Plan Participants Worry About Securing Lifetime Retirement Income. NEW YORK, July 24, 2024 /PRNewswire/ -- J.P. Morgan Asset Management today released its 2024 Defined Contribution  Plan Participant Survey, shedding light on the dynamic changes in retirement savings and the evolving expectations of plan participants. The survey reveals a notable shift, with participants increasingly seeking robust retirement income support and enhanced resources for financial wellness and education. This year's report also explores generational differences, revealing distinct preferences and behaviors across Baby Boomers, Generation X, Millennials, and Generation Z, while also highlighting the synergies between participant responses and sponsor views. Each year, the survey looks to gain a deeper understanding of how participants are thinking about their retirement plans and their overall financial pictures.\"While it's no surprise that participants seek retirement income support, it's part","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","BK4550":"红杉资本持仓","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4581":"高盛持仓","BK4504":"桥水持仓","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","DC":"Dakota Gold Corp","BK4127":"投资银行业与经纪业","LU1261432733.SGD":"Fidelity World A-ACC-SGD","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","BK4017":"黄金","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU":"陆金所","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK4533":"AQR资本管理(全球第二大对冲基金)","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","JPM":"摩根大通","LU0971096721.USD":"富达环球金融服务 A","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4566":"资本集团","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC"},"translate_title":"摩根大通资产管理调查显示计划参与者对改善退休收入支持的需求不断增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DC":1,"JPM":0.9,"LU":0.6},"content_text":"Nearly 80% of Plan Participants Worry About Securing Lifetime Retirement Income\nNEW YORK, July 24, 2024 /PRNewswire/ -- J.P. Morgan Asset Management today released its 2024 Defined Contribution (DC) Plan Participant Survey, shedding light on the dynamic changes in retirement savings and the evolving expectations of plan participants. The survey reveals a notable shift, with participants increasingly seeking robust retirement income support and enhanced resources for financial wellness and education. This year's report also explores generational differences, revealing distinct preferences and behaviors across Baby Boomers, Generation X, Millennials, and Generation Z, while also highlighting the synergies between participant responses and sponsor views. Each year, the survey looks to gain a deeper understanding of how participants are thinking about their retirement plans and their overall financial pictures.\n\"While it's no surprise that participants seek retirement income support, it's particularly noteworthy that guaranteed income options are highly attractive and can even motivate increased savings,\" said Alexandra Nobile, Retirement Strategist at J.P. Morgan Asset Management. \"Retirement plans continue to be a top priority for employees when evaluating employer benefits. It's encouraging to see that SECURE 2.0 provisions, including emergency savings and student loan matching, are resonating strongly with plan participants.\"\nThe results from the this year's DC Plan Participant Survey of 1,503 participants explored views in four main areas: general savings and employer-sponsored benefits, advice, plan design and retirement income.\n1. Broadening the savings scope:\n\nNine in 10 found financial wellness programs to be valuable, while 39% lack basic emergency savings, up from 27% in 2021.\nThe majority of participants found key SECURE 2.0 provisions, such as employer-sponsored emergency savings and student loan matching, to be appealing (69% and 66%, respectively).\nPlan sponsor implications: Consider offering employees financial wellness support, like emergency savings, student loan debt matching, and financial education.\n\n\n\n\n2. The need for professional guidance:\n\nThree out of four participants express a desire for professional advice on investment decisions, yet only half currently receive such guidance.\nSix out of 10 participants wish for an easy button where they can completely hand over retirement planning and investing to a professional.\nPlan sponsor implications: educate participants about the value of professional guidance and offer it to plan participants.\n\n3. The power of proactive plan design:\n\n63% of participants acknowledge they are not saving enough for a financially secure retirement.\nHigh favorability towards automatic enrollment and contribution escalation, with nearly nine out of 10 participants supporting these features.\nStrong interest in target date funds, with 89% of participants finding them appealing.\nPlan sponsor implications: utilize automatic features to increase participation and contribution rates and given the strong interest, consider defaulting into target date funds.\n\n4. Insights into retirement income:\n\nThe average expected retirement age is 65, though industry research indicates that many may retire earlier due to unforeseen circumstances.\n77% of participants are concerned about creating a steady retirement income stream, yet less than half have calculated their savings needs.\nNine in 10 express interest for in-plan solutions that provide guaranteed income in retirement. Guaranteed income was also a top motivator for participants to contribute more to their retirement plans.\nPlan sponsor implications: explore retirement income offerings and consider offering in plan.\n\n\n\n\n\"The DC Plan Participant Survey highlights the critical need for proactive plan design, professional guidance, and innovative retirement income solutions,\" said Alyson Frost, Head of Retirement Insights at J.P. Morgan Asset Management. \"As participants face a volatile economic landscape, these insights are invaluable for plan sponsors and financial professionals aiming to enhance participant experiences and achieve stronger retirement outcomes,\" said Frost.\nFor more information about the survey findings, please visit the DC Plan Participant Survey dedicated website.\nMethodology\nIn January 2024, we partnered with Greenwald Research, a market research firm based in Washington, D.C., to conduct an online survey of 1,503 DC plan participants. To qualify for the study, each respondent had to be employed full-time at a for-profit organization with at least 50 employees, be at least 18 years old and have contributed to a 401(k) plan in the past 12 months.\nSurvey results have been weighted by age, gender and household income to reflect the overall makeup of the general population of 401(k) plan participants. In a similarly sized, random sample survey of general population respondents, the margin of error (at the 95% confidence level) for the total population in this study would be plus or minus approximately 2.8 percentage points.\nAbout J.P. Morgan Asset Management\nJ.P. Morgan Asset Management, with assets under management of $3.3 trillion, as of June 30, 2024, is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.\nJPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (\"U.S.\"), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $341 billion in stockholders' equity as of June 30, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.\n\n  \n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/jp-morgan-asset-management-survey-unveils-growing-demand-for-improved-retirement-income-support-among-plan-participants-302205433.html\nSOURCE J.P. Morgan Asset Management","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454588027"}