While saving for retirement is the top-ranked financial goal for employees overall, young and lower income employees rank paying off credit card debt as their top financial goal, according to a Bank of America report.
By thinking critically about benefits approachability, benefits advisors and employers can boost employees' health care literacy, see higher utilization rates and heighten morale and satisfaction.
An estimated 80% of plan sponsors are overpaying administrative and investment fees due to failure to benchmark their plans annually, according to Steven Abernathy, Principal and Chairman of Abernathy Daley 401K Consultants.