Retirement Trends

BofA employees filed a lawsuit last week, alleging that the company mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit, in yet another fiduciary forfeiture lawsuit.

Collaborate with your HR and workplace experience teams to gather feedback on the financial benefits that matter most to your employees and ideal candidates, and start implementing the benefits that will best support them.

First and foremost, employers should help employees evaluate whether they can even afford to retire, otherwise they need to start maximizing their 401(k) plan contributions ASAP.

While 49% of Gen Z thinks they will be able to retire early, only 30% of millennials and 31% of Gen X feel the same.

Women still feel less financially included than men. How can employers better support them?

The younger generations demonstrate that they are getting their savings on track, while Gen X and baby boomers more often report falling behind on savings and struggling to catch up before retirement, says a new report.