According to a recent study by TIAA, less than half of US workers have enough savings to cover six months of expenses, and about 60% say they are stressed about their finances. Further, more than half of respondents in the TIAA study believe companies have a responsibility to help employees maintain financial wellness as they continue to face financial hardships in the wake of the pandemic. Another recent study by Franklin Templeton revealed that three out of four workers want their workplace to provide more resources to help them with not only retirement savings but their overall financial well-being.

Against a volatile market environment, the decline in the availability of Defined Benefit Plans, less inflation-adjusted Social Security purchasing power, longer lifespans and these increased expectations from employees, the pressure is being felt from all angles. Employers need to provide more support and solutions, and government plays a critical part in setting parameters to help provide safe and secure retirement opportunities.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com 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?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.