Employers are increasingly expanding the options available to help employees save for retirement. But what are they doing to help employees spend those funds responsibly once they leave the workplace?
In 2023, just 19% of employees participated in a pension plan, according to data from the Bureau of Labor Statistics. Pensions, also known as defined benefit plans, provide a set monthly payment for life, an increasingly appealing benefit as employees approach retirement with a lack of education around how to spend down their savings.
