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Share Name | Share Symbol | Market | Type |
---|---|---|---|
JP Morgan Chase and Co | NYSE:JPM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.59 | 0.31% | 191.10 | 12,587 | 14:03:32 |
NEW YORK, Dec. 13, 2018 /PRNewswire/ -- J.P. Morgan Asset Management today released the latest installment of its Ready! Fire! Aim? research series, examining the saving and withdrawal behaviors of defined contribution plan participants and the implications for target date fund design. This year's findings continue the trend witnessed over more than 10 years of Ready! Fire! Aim? research, revealing that participant behavior is much more varied and volatile than many target date fund providers assume, with significant ramifications around retirement outcomes.
"The latest Ready! Fire! Aim? report reveals that many plan participants still aren't positioned for retirement income success despite the efforts of plan sponsors, their advisors, and plan providers. In this year's expanded research, we also were able to identify and analyze the wide variation in behavior across income groups, demonstrating the need for plan sponsors to take into account the personal nature of retirement saving and spending in plan design," said Anne Lester, Portfolio Manager and Global Head of Retirement Solutions, J.P. Morgan Asset Management. "It's also critical for target date fund managers to develop asset allocation models that reflect the fact that participant assets are most vulnerable to account losses in the years leading up to retirement and immediately after."
This year's research included an expanded participant universe, drawing upon data from MassMutual Financial Group and Empower Retirement, who are recordkeepers for more than 4,000 defined contribution plans serving approximately 2 million participants.
Evaluating Participant Behavior Patterns
Ready! Fire! Aim? once again finds persistent and wide variations in saving and investing behavior, impacting the success of retirement plans. Key behavioral trends among participants in the latest analysis include:
Implications for Plan Sponsors
In light of the participant insights revealed in the 2018 Ready! Fire! Aim? report, there are a number of key learnings for plan sponsors who seek to improve participant outcomes:
"This edition of the Ready! Fire! Aim? report confirms our view that a well-designed target date fund offers the greatest chance of retirement security for the vast majority of participants," said Daniel Oldroyd, Head of Target Date Strategies, J.P. Morgan Asset Management. "When it comes to guiding participants safely over the retirement finish line, proactive plan design can be just as important as investing and asset allocation."
"We maintain our position that a broadly diversified glide path with a focus on dynamic risk management, such as the JPMorgan SmartRetirement glide path, continues to secure the greatest number of projected participant retirement funding successes," concluded Mr. Oldroyd.
To learn more about J.P. Morgan Asset Management's leading DC investment strategies, product innovations and resources for advisors and plan sponsors, please click here, or to view the full Ready! Fire! Aim? white paper, and full research methodology, please click here.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.8 trillion (as of September 30, 2018), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion (as of September 30, 2018) and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
For target date funds the target date is the approximate date when investors plan to start withdrawing their money. Generally, the asset allocation of each Fund will change on an annual basis with the asset allocation becoming more conservative as the Fund nears the target retirement date. The principal value of the Fund(s) is not guaranteed at any time, including at the target date.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.
View original content:http://www.prnewswire.com/news-releases/jp-morgan-research-reveals-defined-contribution-participants-continue-to-save-too-little-take-loans-and-withdraw-quickly-after-retirement-300764916.html
SOURCE J.P. Morgan Asset Management
Copyright 2018 PR Newswire
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