Transamerica Survey Finds Higher Education Institutions Turn to Their Retirement Plan Service Provider to Help Address Unprecedented Challenges
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BALTIMORE, March 2, 2021 /PRNewswire/ Transamerica today revealed the latest report of retirement plan trends for institutions of higher education. Survey results provide an inside look into the challenges institutions face in helping faculty and staff prepare for retirement.
The COVID-19 pandemic has impacted retirement plans beyond the availability and usage of loans and COVID-19 related distributions. Nearly three out of five institutions report increased demand for investment and in-plan retirement income opportunities and one in four report an increased need for access to professionally managed accounts. More than ever, higher education institutions are relying on their retirement plan partner to offer strategies to help participants plan for a secure retirement.
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