Defined Contribution

It's a new era of "employee-centric" retirement benefits – workers now want a plan that follows them from job to job and doesn't require a rollover, according to a new study.

Employee stock ownership plans can help businesses looking for an exit strategy or, more immediately, can help boost retention, since the median job tenure is 53% higher for companies with an ESOP.

As a benefits professional, you are in a position to help employers attract and retain employees. They need help in telling the story of their benefits package in as compelling a way as possible.

Since many higher education institutions can't compete with the desire for employees to work completely remotely, 90% of them said a DC plan is key and half of the colleges and universities have added or increased employer match.

The retirement age has also risen from 62.6 in 2021 to 64 this year, and employers need to prioritize their employees' financial health by offering tools and resources that make it easier to build wealth, recommends a new report.

The student loan relief plan has created a moment for employers and service providers to influence employees earning LMI through products and benefits that meet their needs, wants and aspirations.