Innovations in 401(k) Plans Enhance Retirement Savings

The article discusses advancements in workplace retirement-savings plans, highlighting innovations that improve 401(k) offerings, including lifetime income solutions, personal financial advice, and enhanced advisory services. Experts like Deana Calvelli and Robert Massa emphasize the need for sustainable retirement income as more employees retire without traditional pensions. Employers are increasingly adopting strategies like enhanced matching contributions, emergency savings accounts, and programs to assist with student loan repayment. These innovations aim to boost employee engagement and ensure that workers can achieve their retirement savings goals.