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retirement adequacy for participants

2021 Retirement policy legislative agenda

With the Democrats in control of both houses of Congress, they are now in a position to move legislation. In what follows we discuss, briefly, the procedural issues that may limit what legislation may be viable, and then consider a variety of proposals that indirectly or directly affect retirement policy that Democrats may consider giving priority.

Retirement savings finance at the end of 2020

Bottom line: interest rates have stabilized since mid-Summer (near all-time lows) while asset performance has improved dramatically, leaving DB plans on-net slightly better off than they were at the beginning of the year. DC participants – who are generally (on average) younger than DB participants, with longer durations, and thus more affected by 2020 interest rate declines – did (on average) less well, notwithstanding strong asset returns.