Covid-Fueled Inflation Forcing Retirement Savings Adjustments

Inflation in the Covid-19 economy is costing American retirement savers future purchasing power, forcing employers to reconsider the benefits they offer amid an unprecedented shift in worker retention.

Consumer Price Index data for July has produced a number of eye-popping projections for 2022, including a 6.2% Social Security cost-of-living adjustment and increased limits for retirement plan contributions equivalent to nearly three years worth of ordinary gains.

Meanwhile, a record number of businesses are considering making changes to their health and welfare benefits packages, according to a recent Willis Towers Watson PLC survey. Employers are eyeing increased matching contributions, salary ...