The study also suggested that workers should be required to join 401(k)s and other retirement programs.
The common wisdom has been that retirees will liquidate their holdings in securities and real estate to fund their old age.
As economic pressures mount, a shift toward extended employment for older workers will increase, changing what it means to be retired.
The Colleges of Applied Arts and Technology Pension Plan also identified a widening pension gap between generations.
Representatives reintroduce the Susan Muffley Act, which stalled in the Senate last year.
The Department of Labor is concerned fiduciaries will misinterpret its earlier June 2020 letter.
A Fidelity study also finds female investors outperformed men by 40 basis points over the past decade.
