Press release
T. ROWE PRICE'S NEW U.S. RETIREMENT MARKET OUTLOOK EXAMINES THE 2023 RETIREMENT LANDSCAPE
Experts discuss helping Americans close the retirement savings gap, providing holistic financial wellness, and weathering a challenging market environment
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"Experts discuss helping Americans close the retirement savings gap, providing holistic financial wellness, and weathering a challenging market environment through insights and research at press briefing event\nBALTIMORE, Nov. 16, 2022 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, held its annual U.S. Retirement Market Outlook press briefing yesterday, offering research-based insights on major themes expected to shape the retirement landscape in 2023. Amid economic factors such as inflation, the risk of recession, volatile markets, and rising interest rates, a select panel of the firm's experts shared their perspectives on key topics, including the impact of under‑saving and its contribution to the retirement savings gap, the need to help Americans navigate a complex set of retirement and other financial challenges, and the impact of the current investment market environment on retirement.\nThe panel discussion featured commentary from Kim DeDominicis, target date portfolio manager; Michael Doshier, senior retirement strategist; Jessica Sclafani, senior defined contribution strategist; and Rachel Weker, senior retirement strategist. The briefing was hosted by Michael Davis, who is head of institutional defined contribution specialists and former deputy assistant secretary at the U.S. Department of Labor.\nSpecifically, the panel discussed:\nRetirement plan access and adequacy: How employers, advisors, legislators, and regulators can help American workers get on track and stay on track with their retirement savings. Financial wellness: How employers and advisors can provide the holistic and personalized help that workers need to balance competing financial priorities across retirement, wealth, and health. The investment landscape: How employers and advisors can help workers weather market challenges to keep portfolios on track in both the saving and spending phases. \"More than two-thirds of the assets we manage for clients is in retirement accounts, so retirement is at the heart of what we do,\" said Dee Sawyer, head of Retirement Plan Services and U.S. Intermediaries. \"Our research shows that providing access to a retirement plan and encouraging participation is only the first step. Many people need help, whether it's education, guidance, or advice, on how to balance competing fi...