Oct 21 2024 18 mins
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. Podcast Episode Player
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