How Has 401(k) Behavior Been During The COVID-19 Crisis?

One common question amongst employers during the COVID-19 pandemic has been how their employees have been reacting in their 401(k) plans. To delve through this, I am excited to welcome back Josh Dietch, VP of Retirement Thought Leadership at T. Rowe Price. During our conversation, we hit on a few of the obvious thinks like stats around investment and contribution changes, but quickly delve into some of the bigger challenges retirement savers face as a result of recent events. Josh also shares some eye popping numbers on the new CARES act provisions and how their clients are approaching them. Since we missed this point in our conversation, Josh is pulling his data and observations from the over 5,700 retirement plans and 2 million participants that T. Rowe Price works with.   Before we get started, if you have been enjoying the podcast please mention it to anyone you think would benefit from listening. If they already like podcasts, suggest they search 401(k) Fridays on their favorite podcast app, if they are new to podcasts, you might have to explain a few things to them. Guest Bio Joshua Dietch is a vice president of T. Rowe Price Associates, Inc., and the group manager of Retirement Thought Leadership. Joshua joined T. Rowe Price in 2017 and is responsible for leading a team of researchers and writers who create retirement thought leadership in support of the firm's workplace retirement, intermediary, and institutional businesses. Prior to joining the firm, he held a number of senior industry roles, including head of Retirement and Institutional with Strategic Insight, managing director with Chatham Partners, director of Product Marketing and Management with ADP Retirement Services, and associate director of Institutional Markets with Cerulli Associates. In addition to his current role at T. Rowe Price, Joshua is an Executive Committee member of the Defined Contribution Institutional Investment Association and is chair of its Retirement Research Board. He earned a B.A. in history from Bates College and is a Series 7 and 66 registered representative. 401(k) Fridays Podcast Overview Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 175 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!