The writing is on the wall for most Americans: they will not be financially ready for retirement when the time comes.
Among working households, ages 25 – 64, a shocking 92% do not have retirement account balances that meet the minimum savings benchmarks as recommended by the financial services industry. Four out of five working households have retirement savings less than one times their annual income.
How does this effect plan sponsors?
- Older workforce
- Lower productivity
- Higher medical costs
Purposeful and thoughtful improvements to a company’s retirement plan can improve present and future prospects for your employees and their families. If carried out right, these steps can help to boost the short and long-term bottom line of companies. Purposeful and thoughtful improvements to a company’s retirement plan can improve present and future prospects for your employees and their families. If carried out right, these steps can help to boost the short and long-term bottom line of companies. With improved plan health and increased number of employees on track for retirement, plan sponsors and participants can benefit:
- Employees and their families become more prepared for retirement
- Plan sponsors’ health care costs can decrease
- Pricing for retirement plan service providers will likely decrease
- Increased benefits will result in longer tenure within the company and can attract more talent
- Financially prepared plan participants tend to be more productive employees
Handling the investment of a retirement account can petrify even the employee who fully understands that plan and importance of saving. Are you utilizing the educational and risk-based investment tools that make a participant comfortable with a career-long commitment to saving?
We strive to improve participation and engagement through active education provided by credentialed investment professionals and through multiple mediums to ensure participants are being engaged when and how they prefer.
Our approach to education have yielded measurable results. We invite you to see for yourself through these documented Case Studies.