Retirement

There is no single path to retirement today, and employees are demanding more variety from company offerings.

Employers are uniquely positioned to help their employees improve their financial standing.

The companies are offering employees up to $50 in incentives to improve their saving habits.

Proposals to boost savings rates garner strong bipartisan support, but the consensus breaks down on how to handle multi-employer plans and state pension funds facing insolvency.

Employees will receive personalized insights, guidance and tools to build a financially secure retirement.

Employers have evolved and recognize the importance of discussing and supporting employee well-being.

Employers should be thinking more strategically about how their benefit offerings can integrate with each other to maximize the employee experience.

“Financial wellness is front and center [for employers], so the partnership between Betterment and Lumity made perfect sense,” says Amit Ahluwalia, Lumity’s national employee benefits practice leader.

Managers need to learn better ways to set and prioritize their goals in order to oversee employees and work effectively.

Many low-paid workers without much retirement savings found themselves forced out of their jobs with little prospect of finding employment again. Retiring before the full retirement age will result in a cut in their Social Security benefits, by as much as 30%.