Credit: Vitalii Vodolazskyi/Adobe Stock
In 2022, almost half of American households had no savings in retirement accounts, according to the Survey of Consumer Finances (SCF). The situation is particularly acute with employees of small employers, which may not offer retirement plans at all. For many such employers, the cost and regulatory requirements have proved a deterrent to implementing such plans. And while employees can set up individual retirement accounts on their own, experience has shown that the likelihood of an employee saving for retirement is significantly increased if the employee has access to an employer-provided plan, particularly one with automatic enrollment.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
