In an attempt to save money but still help employees plan for their futures, more organizations are moving to a holistic benefits education approach that addresses health care and retirement savings at the same time.
We are hearing in the news and seeing across companies that many [companies] are freezing their pensions or terminating their pensions. Even those who are still offering pension plans are not offering them to new hires, says Linda Robertson, a certified financial planner with Financial Finesse. Only 7% of employers are offering traditional DB pension plans to new hires, which means a lot more responsibility is put on the shoulders of employees for health care and retirement planning.
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