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Tom Allen

Articles by Tom Allen

Employees Want Paychecks for Life: Pros and Cons of Guaranteed Lifetime Income

September 27, 2022

Annuities and similar products may help address retirement readiness in an aging workforce
People are living longer, which means they may need their retirement savings to last decades. As a result, nearly half (48%) of participants are concerned about outliving their retirement savings. Many Americans don’t know how to transform their savings into retirement income.
Guaranteed income offerings can help ease this concern by providing consistent, predictable payments for life. Research shows a majority of 401(k) participants (75%) are “very” or “somewhat” interested in putting some or all of their savings into a guaranteed income option.
Employers are on board, too — 4 in 5 believe employees want guaranteed income products in their retirement plans. However, with

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How Could Inflation Impact Corporate Retirement Plans?

September 26, 2022

Increasing prices may put pressure on employers and delay workers from retiring
Inflation is the increase in the general price of goods and services, which can decrease the purchasing power of American workers. So how does this recent upward trend affect your workplace benefits, employees and retirement plan?
Salaries, Flexibility and Savings
When inflation goes up, the same paycheck doesn’t stretch as far. With the increased costs of food & beverage, transportation, housing, apparel, medical care, recreation, education & communication and other goods & services, your employees might not be able to afford the same lifestyle.
To maintain a similar standard of living, your employees may request salary increases and it might be more than the typical 2% raise

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