A new study found that workers increasingly are seeking personalization, simplification and portability in their retirement options, while looking for more professional help and guidance in their retirement planning.
The 2022 Retirement Trends Study from Icon Savings Plan focused on the shifting attitudes and preferences of workers toward their retirement benefits. Icon provides retirement savings plans for individuals and businesses. The digital survey of 1,650 actively contributing retirement plan participants and employed workers without access to a plan revealed changes in employees' feelings toward retirement plan options since 2020, the last time Icon conducted the study. For instance, the survey found that 78% of respondents want access to emergency savings through their retirement plan, compared to just 53% in 2020. In addition, 80% prefer a discretionary cash bonus to a 401(k) match – vs. 55% of respondents two years ago.
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.
