MetLife: Evolving Retirement Model Study

Posted on March 23, 2020

MetLife recently released the Evolving Retirement Model Study. Conducted by the Harris Poll, employers, workers and retirees were surveyed to examine employer strategies for managing an aging workforce, and the impact those strategies are having on workers and retirees.  The retirement model has three components: (1) retirees are shouldering more of the burden for their retirement security; (2) retirement has evolved to be more fluid — with an ebb and flow between work and retirement; and (3) for some workers, retirement is now unattainable. Key findings include that nearly one in 10 workers (9%) never expect to retire, employer concern about the impact of delayed retirement has risen to 43% in 2019, up from 26% in 2009, nearly all workers and retirees (95%) say it’s important for retirees to have a source of guaranteed income they cannot outlive, and 82% of employers who were awaiting clarification on the annuity safe harbor, which was contained in the recently passed SECURE Act of 2019, said they were likely to offer a guaranteed income option within five years of its issuance. Read More