Where can employees save the most--tax-free--for retirement?
The combined impact of these two accounts -- the 401(k) and HSA -- increases savings for both accounts, and for your employees.
By Shobin Uralil|December 07, 2020 at 08:15 AM
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The retirement gap (the difference between what employees need to save and what they have saved) is growing, and COVID-19 is making it worse. And while it is clearly the responsibility of employees to plan (and save) for retirement, employers have a unique opportunity to help get them in a better position.
Employers need to focus on this issue now because 4 out of 5 employees’ personal finances are impacting their job performance. By reducing the stress created by these concerns, employers can improve employee satisfaction and retention, while increasing individual performance. This directly influences their profits and revenue. A direct focus on an employee’s personal savings might be the best way to increase overall company performance.
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