BlackRock believes successful solutions will extend beyond investment products to re-orient participants around “income as an outcome.” This includes helping to clearly explain how today’s contributions can translate to potential retirement income, and to help simplify and streamline the complexity of guaranteed income through annuities. 

“All hands on deck” moment

The U.S. is facing a retirement crisis. Forty percent of households approaching retirement age have zero savings, and a quarter of American seniors could not fund two years of paid home care even if they liquidated all of their assets.¹ The COVID-19 crisis has magnified these troubling trends, underscoring the work that must be done to provide workers and retirees long-term stability and security.

“We see this as an all-hands-on-deck moment, requiring collaboration across the entire retirement ecosystem, and we are committed to doing our part,” said Anne Ackerley, Head of BlackRock’s Retirement Group. “In our conversations with clients, retirement security is a top priority, as it must be for all of us.”