Employer-sponsored plans provide one of the best incentives for workers to save for retirement. "We know from the AARP that workers are 15 times more likely to save for retirement if they are offered a workplace retirement plan," said Tyler Bond, research director for the National Institute on Retirement Security.
The reality, however, is that many employees simply don't have access to such a plan through their employer.
"Despite really good movement at the federal level to encourage, simplify and incentivize employers to take up employer-sponsored plans, there is a general recognition that there will always be a certain cohort of businesses where offering their own plan isn't something they are able to do," said Courtney Eccles, vice president for state and client relationship management at Vestwell.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.