Retirement insights survey: Participant savings actions in 2020
In a year of unprecedented challenge, many participants continued to save more for retirement, and those who had a guaranteed lifetime income option like TIAA Traditional were more confident about their long-term savings goals. 1 2
Guaranteed lifetime income gives participants more confidence
We polled 1,000 participants between the ages of 25 and 70. Here’s what we found:
80%of employees with guaranteed lifetime income in retirement feel confident about their progress toward long-term goals.
7 in 10participants consider programs with guaranteed lifetime income offerings to be highly valuable.
3 in 10participants increased their contributions to their retirement plans despite a challenging 2020.
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