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Workers and Retirement Programs: What Are They Thinking? (2017)


Industry Issues

More than half of states – who may well face the eventual challenge of impoverished retirees – have proposed a variety of measures to mandate coverage, create exchanges, and otherwise facilitate retirement savings (via payroll deduct) for these workers. The Federal government has made an attempt, as well, with the introduction of an optional “MyRA” program; uptake has been lukewarm at best, though, with approximately 20,000 people opting to participate.

How do workers themselves feel about retirement savings, saving via the workplace, common features of retirement programs, and the qualifications of institutions jockeying to administer such programs?

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Meet the Researcher

Meet the Researchers: Deb Dupont


Key Findings

Workers understand that they need to save for retirement, they want to do it through their workplaces, and they support employers’ being required to offer workplace savings plans.  There are several aspects or features of the defined contribution (DC) system that workers do highly value, such as comparatively higher contribution limits (versus IRAs), employer contributions and “best interest” investment selection.  Workers’ confidence in entities to administer programs, however, varies widely, and while they support government plan mandates, their confidence in government entities’ ability to administer such programs is low. 

There is a role for the DC industry to play in solving the issue of worksite retirement plan access… building upon an infrastructure that is appealing to workers, and enabling even the smallest of employers to easily and affordably (with some fiduciary protection) offer robust and meaningful workplace retirement savings solutions.

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Workplace Retirement Plans are a Highly Valued Benefit

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Workers' Priorities

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Who Do They Trust?

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Meet the Project Director

Deb Dupont
Associate Managing Director, Worksite Retirement
LIMRA Secure Retirement Institute

Deb Dupont is responsible for the LIMRA Secure Retirement Institute's institutional (retirement plans) retirement research program.  She conducts and supervises research, benchmark reporting and study groups focused on the issues and trends faced by constituents of the defined contribution industry.  She also provides guidance and thought leadership in helping LIMRA's member firms better understand the opportunities available for improving delivery of institutional retirement solutions.

Prior to joining LIMRA in 2014 Deb was the Director of ING's Retirement Research Institute (the Institute), where created, managed and published a research platform that included work focusing on multi-cultural, generational, and gender-based analyses of retirement behaviors, and also  published insights and analyses of ING's own cross-Defined Contribution (i.e. across employment sectors) participant base.    Deb's work has been recognized for effectiveness and quality by some of the most prestigious awards in the financial services and communications industries, including the Insurance and Financial Communicators' Association and the International Association of Business Communicators.  She is a graduate of the University of Connecticut.

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Deb Dupont