According to MetLife’s 14th Annual U.S. Employee Benefit Trends Study, 54% of Gen X employees, 57% of younger baby boomers and 51% of older boomers are extremely concerned about outliving their retirement savings. As employees continue to rely on company-sponsored plans, like a 401(k) or 403(b), they will need guidance to help ensure that they are financially secure in retirement.
Instituting a plan, however, is only the first step in helping to secure your workforce’s financial independence in retirement. For many employees, the concepts of investing and saving for retirement are difficult to understand. In order to make the most of the plan expense and the employee’s benefit, it’s important to fill the information gap by having regularly scheduled information or advisement sessions with eligible employees.
