A recent study examining both salaried and hourly workers revealed that hourly workers are less confident they will retire comfortably compared to salaried workers. The poll was run by OnePoll on behalf of Human Interest, and looked at the growing difficulty for both hourly and salaried workers to expand and maintain their retirement savings. Retirement was once considered the inevitable conclusion to one's long-winded career in an industry. Today, only half of hourly employees feel they will be able to retire comfortably.
The study revealed that an alarming 25% of employees aren't offered any sort of retirement savings by their employer. Hourly workers making less than $60K a year had even less access compared to salaried workers (making roughly the same amount). As the study revealed, about three in 10 hourly workers lack access to employer-based savings, while two in 10 salaried workers must also save on their own measure. That lack of access will certainly impact workers' financial independence during and prior to retirement years.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
