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The tax-deferred plan, similar to a 401(k) plan, is the basis for a plan that is being proposed with new legislation called the Retirement Savings for Americans Act, which could expand savings for millions of low- and moderate-income private sector Americans.

The Saver's Match program, which launches in 2027, allows low-income employees to receive a 50% federal matching contribution of up to $1,000, in addition to any employer match – and will “significantly boost retirement wealth,” says Morningstar Center for Retirement.

Workers want benefits that have a real and substantial impact on their health and wellbeing, and family planning concerns continue to be a dominating factor.

President-elect Donald Trump has named economist Kevin Hassett, who is known in the retirement industry for a high-profile white paper that was the basis for the Retirement Savings for Americans Act bill, to lead the White House National Economic Council.

The new retirement bill, aimed at expanding retirement coverage for workers not covered by an employer plan, would likely lead to worse retirement outcomes for most Gen Z and millennial workers, according to the Morningstar Center for Retirement's new research.

There needs to be a multi-faceted approach, spanning policy reform, organizational change, individual savings, and expanded philanthropic support, according to Just Futures' George Guerrero.

Innovation in caregiver-related benefits is being driven by individual organizations listening to their workforces and redesigning their benefits packages to suit their unique needs.

About 20% of the working-age Americans in a typical state reported in 2023 that they had some form of arthritis, according to the CDC.