The retirement savers who suffered the most harm during the market plunge in March were those at or near retirement who had too much invested in equities.
“With the S&P down more than 8% in February and more than 12% in March, losses were significant for those who accumulated a lot of savings over their lifetime,” says Nick Gage, senior principal and head of stable value separate account strategy at Galliard Capital Management, and chairman of the Stable Value Investment Association (SVIA) board of directors, who is based in Minneapolis.
