Health care benefits have been a big deal lately. I hear the concerns of our corporate clients about how their plans and the industry as a whole will be changing. But there’s another benefit that’s on its way to getting a complete overhaul that is equally impactful on employees’ lives and isn’t getting as much attention–retirement benefits.

The fact, as we all know, is 401(k) plans aren’t working. When they were introduced to replace pensions as the more cost effective plan, companies jumped on board. They focused on communicating the benefit, but missed an important component to making them actually work: benefits planning. Today, we’re seeing a major shift in benefits packages. They are now including this component which helps employees understand how to manage their benefits in order to reach personal financial goals, rather than just telling them what they have available. Eventually, providers won’t be able to sell packages without it.

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