Defined Contribution

Once employers realize improving the benefits package can help increase morale and reduce turnover, they see it as money well spent, since it makes hiring away employees much more expensive for a competitor.

Nearly 6 in 10 Gen Z women believe they'll be financially prepared for retirement – a significant higher proportion than women in other generations, according to a recent Northwestern Mutual study.

Likely as a result, 401(k) contributors, whose biggest short-term priority is paying off debt, are often juggling saving for now vs. savings for the future – and nearly half are behind or don't have a retirement goal, says a new TIAA survey.

Despite improvements in employment and income inequality, the U.S. slipped in the Natixis Global Retirement Index, dropping to 20th place, as high inflation and public debt caused overall retirement security to deteriorate.

Benefits such as emergency savings accounts and student loan repayment are each offered in only about 5-10% of companies today, however, the new legislation paves the way for real progress to increase savings for more workers.

Joint research between J.P. Morgan and the Employee Benefit Research Institute uncovers new connections between financial wellness and retirement readiness – and new solutions for plan sponsors.