US. Changes, trends and best practices for 401k administration in 2018
Whe new year won’t bring significant changes to 401k plans, experts say, which means it’s the perfect time for employers to boost their financial education efforts.
Employees who are stressed about finances have lower productivity. And, when workers don’t retire because they can’t afford to, employers are faced with a talent logjam that creates high healthcare costs and a brain drain when those workers leave. These phenomenons have, in recent years, led employers to take various actions, from offering flexible retirement to pouring money into workers’ 401ks.
While a lack of education may not be the reason that today’s older workers can’t retire, financial education can go a long way in helping your workforce make the most of the benefits you’re offering.
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