{"id":1117,"date":"2020-07-14T17:00:00","date_gmt":"2020-07-14T21:00:00","guid":{"rendered":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/"},"modified":"2021-11-02T19:09:20","modified_gmt":"2021-11-02T23:09:20","slug":"less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey","status":"publish","type":"newsroom","link":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/","title":{"rendered":"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column width=&#8221;1\/1&#8243;][vc_column_text uncode_shortcode_id=&#8221;837014&#8243;]<strong>July 14, 2020 &#8212; Boston &#8212;<\/strong> NEPC, LLC, one of the largest independent, research-driven investment consulting firms, conducted a poll about COVID-19&#8217;s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.<\/p>\n<p><!--more-->The findings quell some of the largest fears about the potentially detrimental impact of the pandemic and economic disruption on retirement savings:<\/p>\n<ul>\n<li>The vast majority (77%) of employers kept their match and don&#8217;t plan to lower or suspend it. Only half furloughed or laid off any staff.<\/li>\n<li>91% of plan sponsors report less than 5% of Americans made an early withdrawal from their retirement account, as permitted by the CARES Act. 51% don&#8217;t anticipate an increase in coronavirus-related distributions this year.<\/li>\n<li>9 in 10 are confident in their investment menu and believe they offer the right mix of options to withstand volatility<strong>.\u00a0<\/strong><\/li>\n<\/ul>\n<p>&#8220;Our survey reveals that with the tremendous volatility amid the COVID-19 pandemic, plan sponsors&#8217; number one priority is communicating with participants to help them navigate this period of disruption and make the best decisions for their future,&#8221; said <a href=\"https:\/\/www.nepc.com\/ross-a-bremen-cfa\">Ross Bremen<\/a>, Partner in NEPC&#8217;s Defined Contribution practice. &#8220;Between the SECURE Act, the CARES Act, and the DOL&#8217;s ruling on private equity&#8217;s inclusion in plans, there is also tremendous legislative and regulatory change to react to.&#8221;<\/p>\n<p>Plan sponsors ranked their priorities as follows:<\/p>\n<table style=\"border-color: #99acc2; border-collapse: collapse; table-layout: fixed; height: 277px;\" width=\"711\" cellpadding=\"4\">\n<tbody>\n<tr style=\"height: 75px;\">\n<td style=\"height: 75px; width: 346.667px;\"><strong>Investment Priorities<\/strong><\/td>\n<td style=\"height: 75px; width: 347.778px;\"><strong>Plan Priorities\u00a0<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 143px;\">\n<td style=\"height: 143px; width: 346.667px;\">1. Consider the role of active offerings within the program<\/td>\n<td style=\"height: 143px; width: 347.778px;\">1. Review participant communication and messaging<\/td>\n<\/tr>\n<tr style=\"height: 109px;\">\n<td style=\"height: 109px; width: 346.667px;\">2. No special investment priorities, business as usual<\/td>\n<td style=\"height: 109px; width: 347.778px;\">2. Consider and\/or review advice offering<\/td>\n<\/tr>\n<tr style=\"height: 143px;\">\n<td style=\"height: 143px; width: 346.667px;\">3. Consider the role of passive offerings within the program<\/td>\n<td style=\"height: 143px; width: 347.778px;\">3. Review plan fees<\/td>\n<\/tr>\n<tr style=\"height: 143px;\">\n<td style=\"height: 143px; width: 346.667px;\">4. Review the performance and\/or appropriateness of QDIA (if applicable)<\/td>\n<td style=\"height: 143px; width: 347.778px;\">4. Review cybersecurity practices<\/td>\n<\/tr>\n<tr style=\"height: 109px;\">\n<td style=\"height: 109px; width: 346.667px;\">5. Considering adding additional investment choices<\/td>\n<td style=\"height: 109px; width: 347.778px;\">5. Review auto features<\/td>\n<\/tr>\n<tr style=\"height: 109px;\">\n<td style=\"height: 109px; width: 346.667px;\">6. Consider removing existing investment choices<\/td>\n<td style=\"height: 109px; width: 347.778px;\">6. Review plan distribution rules<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><strong>About NEPC, LLC<\/strong><\/h3>\n<p>NEPC is an independent investment consultant and private wealth advisor with more than 30 years&#8217; experience. Combining a proprietary research team dedicated to the long-term challenges facing institutional and high-net investors, with our unique client-centric model, NEPC builds forward-looking investment portfolios.<\/p>\n<p>We service over 350 retainer clients representing assets over $1.1 trillion from our offices in Boston, Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Portland and San Francisco.<\/p>\n<p>To learn more about NEPC, visit <a href=\"https:\/\/www.nepc.com\/\">nepc.com<\/a>.<\/p>\n<h3><strong>CONTACT:<\/strong><\/h3>\n<p>Kerry Mullen<br \/>\nnepc@fullyvested.com[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/1&#8243;][vc_column_text uncode_shortcode_id=&#8221;837014&#8243;]July 14, 2020 &#8212; Boston &#8212; NEPC, LLC, one of the largest independent, research-driven investment consulting firms, conducted [&hellip;]<\/p>\n","protected":false},"author":95,"featured_media":1356,"template":"","meta":{"content-type":"","footnotes":""},"newsroom_categories":[87],"newsroom_tags":[82,88],"class_list":["post-1117","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","newsroom_categories-press-releases","newsroom_tags-press","newsroom_tags-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey<\/title>\n<meta name=\"description\" content=\"NEPC, LLC conducted a poll about COVID-19\u00e2\u20ac\u2122s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey\" \/>\n<meta property=\"og:description\" content=\"NEPC, LLC conducted a poll about COVID-19\u00e2\u20ac\u2122s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/\" \/>\n<meta property=\"og:site_name\" content=\"NEPC - Private Wealth\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-02T23:09:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"401\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/\",\"url\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/\",\"name\":\"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey\",\"isPartOf\":{\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.jpg\",\"datePublished\":\"2020-07-14T21:00:00+00:00\",\"dateModified\":\"2021-11-02T23:09:20+00:00\",\"description\":\"NEPC, LLC conducted a poll about COVID-19\u00e2\u20ac\u2122s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#primaryimage\",\"url\":\"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.jpg\",\"contentUrl\":\"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.jpg\",\"width\":600,\"height\":401,\"caption\":\"A pen, calculator, and reading glasses sitting on top of 401k statements.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.nepc.com\/private-wealth\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/#website\",\"url\":\"https:\/\/www.nepc.com\/private-wealth\/\",\"name\":\"NEPC - Private Wealth\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.nepc.com\/private-wealth\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/#organization\",\"name\":\"NEPC Investment Consulting\",\"url\":\"https:\/\/www.nepc.com\/private-wealth\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/03\/NEPC-logo.svg\",\"contentUrl\":\"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/03\/NEPC-logo.svg\",\"width\":80,\"height\":71,\"caption\":\"NEPC Investment Consulting\"},\"image\":{\"@id\":\"https:\/\/www.nepc.com\/private-wealth\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey","description":"NEPC, LLC conducted a poll about COVID-19\u00e2\u20ac\u2122s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/","og_locale":"en_US","og_type":"article","og_title":"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey","og_description":"NEPC, LLC conducted a poll about COVID-19\u00e2\u20ac\u2122s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.","og_url":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/","og_site_name":"NEPC - Private Wealth","article_modified_time":"2021-11-02T23:09:20+00:00","og_image":[{"width":600,"height":401,"url":"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/","url":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/","name":"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey","isPartOf":{"@id":"https:\/\/www.nepc.com\/private-wealth\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#primaryimage"},"image":{"@id":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#primaryimage"},"thumbnailUrl":"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.jpg","datePublished":"2020-07-14T21:00:00+00:00","dateModified":"2021-11-02T23:09:20+00:00","description":"NEPC, LLC conducted a poll about COVID-19\u00e2\u20ac\u2122s impact on the retirement landscape, receiving 105 responses from defined contribution plan sponsors.","breadcrumb":{"@id":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#primaryimage","url":"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.jpg","contentUrl":"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/10\/newsroom-images_0001.jpg","width":600,"height":401,"caption":"A pen, calculator, and reading glasses sitting on top of 401k statements."},{"@type":"BreadcrumbList","@id":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/less-than-5-of-americans-took-early-retirement-withdrawals-due-to-covid-19-nepc-survey\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.nepc.com\/private-wealth\/"},{"@type":"ListItem","position":2,"name":"Less than 5% of Americans Took Early Retirement Withdrawals Due to COVID-19: NEPC Survey"}]},{"@type":"WebSite","@id":"https:\/\/www.nepc.com\/private-wealth\/#website","url":"https:\/\/www.nepc.com\/private-wealth\/","name":"NEPC - Private Wealth","description":"","publisher":{"@id":"https:\/\/www.nepc.com\/private-wealth\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.nepc.com\/private-wealth\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.nepc.com\/private-wealth\/#organization","name":"NEPC Investment Consulting","url":"https:\/\/www.nepc.com\/private-wealth\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.nepc.com\/private-wealth\/#\/schema\/logo\/image\/","url":"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/03\/NEPC-logo.svg","contentUrl":"https:\/\/www.nepc.com\/private-wealth\/wp-content\/uploads\/sites\/3\/2021\/03\/NEPC-logo.svg","width":80,"height":71,"caption":"NEPC Investment Consulting"},"image":{"@id":"https:\/\/www.nepc.com\/private-wealth\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/newsroom\/1117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/newsroom"}],"about":[{"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/types\/newsroom"}],"author":[{"embeddable":true,"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/users\/95"}],"version-history":[{"count":0,"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/newsroom\/1117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/media\/1356"}],"wp:attachment":[{"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/media?parent=1117"}],"wp:term":[{"taxonomy":"newsroom_categories","embeddable":true,"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/newsroom_categories?post=1117"},{"taxonomy":"newsroom_tags","embeddable":true,"href":"https:\/\/www.nepc.com\/private-wealth\/wp-json\/wp\/v2\/newsroom_tags?post=1117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}