Market Insights

"Employers have invested heavily in retirement programs, but the next challenge is proving these programs are moving employees closer to retirement readiness," said Chris West, Senior Managing Director and Defined Contribution Strategy Leader, WTW.

"Closing the financial literacy gap requires coordinated action from governments, employers and financial institutions," the report concluded.

"One of the biggest misconceptions is that AI somehow eliminates complexity. It doesn't," says Joe DeSilva, executive vice president and chief of operations at ADP.

Employee benefits knowledge varies widely by industry and income, with a 27-point gap between the highest and lowest literacy scoring industries, according to the 2026 Benefits Insights Benchmarks Report from Businessolver.

Employers may have an incentive to help workers build emergency savings as financial strain increasingly spills into attendance, productivity and retention.

The industry group says its reform effort remains on track despite questions about participation, oversight and continuity-of-care protections.