The issue of retirement took center stage in Fink's letter to shareholders.
BlackRock Chairman Larry Fink said capital markets can help solve a crisis brewing around the ability of Americans to afford retirement as lifespans elongate, and that the government can provide a basic safety net.
Fink pointed to a U.S. Census Bureau survey that found nearly half Americans between 55 and 65 have no savings in personal retirement accounts. And the investing firm's leader noted tens of millions of Americans work part-time or gig jobs that don't offer clear retirement contribution plans. A federal law that will require employers with 401K plans to auto-enroll new workers provides a bright spot, he said. Hundreds of companies have already taken this step, Fink noted.
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