03.29.24
Retirement Warning Highlights Fight Over Finance's Hardest Problem
by: Brooke Masters and Madison Darbyshire
"Millions of Americans are at risk of running out of savings in retirement," said Catherine Collinson, president of the Transamerica Center for Retirement Studies. "It's a societal test - how will we help those who are aging in their time of need, when they no longer have resources available to them?" At the same time, employers who sponsor defined contribution plans and the asset managers who run them are waking up to the financial advantages of keeping retirees' assets in house. BlackRock, Franklin Templeton, T Rowe Price, State Street and JPMorgan Chase are among those working on new products aimed at helping retirees with "decumulation," a process that economist William Sharpe called "the nastiest, hardest problem in finance."
Read the full article on Financial Times