Navigating Sequence Risk in Retirement: Lessons and Strategies for DocuSign Employees

New Update: Rising Oil Costs are Affecting Retirement Plans. Will you be impacted?

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Navigating Sequence Risk in Retirement: Lessons and Strategies for DocuSign Employees

August 27, 2025

How Oil Volatility Affects Your DocuSign Retirement

Oil market turbulence continues to ripple through the broader economy, with crude swinging between $50 and $120 per barrel and annualized volatility near 80%. Through the macro channel of inflation, interest rates, and valuation multiples, sustained oil price volatility affects technology sector capital allocation and employee compensation values. For DocuSign employees building retirement savings, oil-driven inflation and market volatility make disciplined saving and diversified allocation more important, as energy cycles can disrupt both portfolio values and purchasing power. Working with a financial advisor can help you position your planning strategy for sustained energy price uncertainty.

'DocuSign employees approaching retirement should recognize that the sequence of market returns in their early years can influence the longevity of their income far more than the average return itself, making disciplined withdrawal strategies and diversified income planning essential.' - Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

'DocuSign employees nearing retirement can benefit from understanding how market downturns early in retirement may have lasting effects, and from adopting flexible, research-based withdrawal and allocation strategies to help sustain their income over time.' - Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article we will discuss:

Historical examples of sequence-of-returns risk and their effects on retirement income.
Why the first years of retirement are most critical for portfolio sustainability.
Researchâ€‘backed strategies for managing sequence risk and supporting longâ€‘term retirement goals.

Contributed by Paul Bergeron and Brent Wolf of Wealth Enhancement

For Fortuneâ€¯500 employees approaching retirement, recognizing the timing of returns, not just the average return, can be critical to keeping income going over the long term. This concept, known as sequence-ofâ€‘returns risk, shows how poor early market performance in retirement can have a lasting impact on a withdrawal plan, even if long-term averages seem strong. Historical market data provides clear examples of this risk and offers practical methods for responding to it.

Historical examples of sequence risk

Fortuneâ€¯500 retirees entering retirement during tough market cycles face situations similar to the declines seen in the late 1960s, when the market hit two bear markets (1968-70 and 1973-74) alongside high inflation. The S&Pâ€¯500 dropped roughly 48% during the 1973-74 bear market, compounding inflation-related difficulties. ¹ Likewise, those retiring endured two severe bear markets in the decade, while 2022 proved one of the toughest years for balanced portfolios, with sharp drops in both U.S. stocks and high-quality bonds.

Why the early years matter most

For a Fortuneâ€¯500 retiree, significant losses in the first five to ten years of retirement, combined with regular withdrawals, can shrink the number of shares left to rebound when markets recover. Academic studies and industry research repeatedly show that even with the same average return, the order of gains and losses plays a huge role in retirement outcomes.

Research-backed strategies to manage sequence risk

One effective method for Fortuneâ€¯500 retirees is keeping a mix of asset types to help weather downturns. Cash and bonds can act as "shock absorbers" for immediate expenses, reducing the need to sell stocks during market dips. Flexible withdrawal approaches, such as adjusting withdrawals within set guardrails, have been shown to support portfolio longevity better than fixed-dollar withdrawal methods.

Staging risk in a retirement portfolio, by holding one to two years of expenses in cash-like assets and several years in shortâ€‘ to intermediateâ€‘term bonds, may give equities time to recover before they're tapped for income. For some Fortuneâ€¯500 retirees, delaying income sources like Social Security can help raise total lifetime income and lessen the need to tap investments during volatile times. Thoughtful rebalancing and managing tax lots, especially during downturns, can also help maintain equity exposure and extend portfolio lifespan.

Implications for retirement planning

While higher stock allocations may offer greater long-term growth potential, they also increase sequence risk in early retirement for Fortuneâ€¯500 workers. Historically, balanced portfolios, often with 30% to 50% equities for income-focused funds, have supported more resilient initial withdrawal rates compared to all-stock strategies. ² Strong early-market results can set up long-term success, but disciplined spending limits, guardrails, and rebalancing remain key.

As you plan your transition from DocuSign into retirement, understanding the company's benefit structure can help you make more informed decisions. According to publicly available information, DocuSign does not maintain a traditional defined benefit pension plan, making your 401(k) plan and personal savings the primary vehicles for retirement income. DocuSign does not appear to offer a formal retiree healthcare program, so healthcare coverage planning before Medicare eligibility at age 65 is an important consideration. We encourage you to review your Summary Plan Description (SPD) or speak with DocuSign's HR or benefits team for the most current details.

Sources:

1.The New York Times. ' What Happens When Stock Markets Become Bears ,' by William Davis, Karl Russell, and Stephen Gandel. 13 June 2022.

Other Resources:

1. Guyton, Jonathan T., and William J. Klinger. " Decision Rules and Maximum Initial Withdrawal Rates ." Journal of Financial Planning , vol. 19, no. 3, Mar. 2006, pp. 48-50, 52-54, 56-58. Financial Planning Association.

2. " Timeline of U.S. Stock Market Crashes ." Investopedia , 30 Oct. 2024, section "The 1973-74 Oil Crisis Bear Market."

3. ' When to Start Receiving Retirement Benefits. ' Social Security Administration, Pub. No. 05-10147, May 2024, pp. 1-2.

4. Arnott, Amy C., CFA, and Ivanna Hampton. " Why More Diversification Doesn't Mean Better Returns ." Morningstar , 7 June 2024.

What is the 401(k) plan offered by DocuSign?

The 401(k) plan at DocuSign is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

Does DocuSign match employee contributions to the 401(k) plan?

Yes, DocuSign offers a matching contribution to the 401(k) plan, helping employees maximize their retirement savings.

What are the eligibility requirements to participate in DocuSign's 401(k) plan?

Employees of DocuSign who are at least 21 years old and have completed a specified period of service are eligible to participate in the 401(k) plan.

How can I enroll in DocuSign's 401(k) plan?

Employees can enroll in DocuSign's 401(k) plan through the company's benefits portal during the enrollment period or after meeting eligibility requirements.

What investment options are available in DocuSign's 401(k) plan?

DocuSign's 401(k) plan offers a variety of investment options, including mutual funds, index funds, and target-date funds.

Can I change my contribution percentage to DocuSign's 401(k) plan?

Yes, employees can change their contribution percentage to DocuSign's 401(k) plan at any time, subject to the plan's guidelines.

What is the vesting schedule for DocuSign's 401(k) matching contributions?

DocuSign follows a specific vesting schedule for matching contributions, which typically requires employees to remain with the company for a certain number of years.

Are there any fees associated with DocuSign's 401(k) plan?

Yes, there may be administrative and investment fees associated with DocuSign's 401(k) plan, which are disclosed in the plan documents.

What happens to my DocuSign 401(k) if I leave the company?

If you leave DocuSign, you have several options for your 401(k) savings, including rolling it over to another retirement account or leaving it in the DocuSign plan if eligible.

Can I take a loan against my 401(k) with DocuSign?

Yes, DocuSign allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

DocuSign provides its employees with a Defined Contribution Plan, specifically the DOCUSIGN, INC. 401(K) PLAN. This plan allows employees to contribute a portion of their earnings to individual accounts, with possible employer matching contributions (Capitalize) (SimpleQDRO). The plan is administered by Vanguard, covering around 2,463 employees as of recent filings (Capitalize). The DOCUSIGN, INC. 401(K) PLAN is a cash or deferred arrangement under section 401(k) of the Internal Revenue Code, allowing employees to defer part of their compensation in exchange for contributions to the plan. Participants can direct their investments, with default options available for those who do not specify an investment direction (SimpleQDRO). As for the company's retirement plan, DocuSign does not offer a traditional pension plan. Instead, the focus remains on the 401(k) and profit-sharing elements, where contributions are tied to company profitability (SimpleQDRO). The DOCUSIGN, INC. 401(K) PLAN includes participant-directed accounts and provides options for lump sum withdrawals or rollovers into IRAs (SimpleQDRO). The plan is designed to allow immediate distribution of benefits upon qualification, such as retirement or employment termination.

Restructuring and Layoffs: In early 2024, DocuSign announced a significant restructuring plan due to slowing growth and increased operational costs. The company is reducing its workforce by approximately 10%, affecting various departments including sales and support. This move aims to streamline operations and focus on core business areas. The decision comes as a response to the challenging economic conditions and a shift in the market dynamics which have pressured tech firms to optimize their cost structures. This is important to address given the current economic environment where many companies are reassessing their strategies due to inflation and market fluctuations.

DocuSign offered stock options and RSUs to its employees as part of their compensation package. These were typically available to senior executives and employees at various levels depending on their role and tenure. DocuSign used acronyms like ISO (Incentive Stock Options) and RSU (Restricted Stock Units) to denote their stock options and equity awards.

Benefits Overview Page: DocuSign's benefits information for employees is detailed on their official website, covering medical, dental, vision insurance, and other health-related benefits. Look for specific terms like “Comprehensive Health Coverage,” “Preventive Care,” and “Mental Health Support.” Employee Reviews: Glassdoor often provides insights into employee satisfaction with benefits, including specific terms like “401(k) matching,” “HSA (Health Savings Account),” and “FSA (Flexible Spending Account).”

For more information you can reach the plan administrator for DocuSign at 221 Main St, Suite 1550 San Francisco, CA 94105; or by calling them at (877) 720-2040.

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