Employee Benefit News
A 401(k) is one of the more traditional offerings to help support employee finances. However, according to the U.S. Census Bureau, fewer than 60% of eligible workers contribute to a 401(k) and nearly 30% of American workers don't have a 401(k) option through their workplace. While 97% of employers feel that their employees' financial wellness is their hands, how can they better support their people? Financial literacy is at the core of employee financial wellbeing and organizations need to be prepared to have these financial conversations with their people. Additionally, auto-enrollment into a retirement plan or an emergency savings account is a benefit that can help get their people on the right track.
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