Sponsors’ confidence in the impact of their retirement benefits continues to grow. More than 35% of sponsors now “strongly” or “moderately” agree that employees will reach their retirement goals by age 65, while 92% feel they have a responsibility to improve employee financial wellness. Sponsors are more split as to the best way to deal with separated employees. While 41% of respondents admitted to having no preference on the topic, the remainder almost evenly divided over whether such balances should be retained in-plan (31%) or rolled out of the plan (27%).
Employees Will Reach Retirement Goals by Age 65
Company Has Responsibility to Improve Employee ‘Financial Wellness’
Organization’s Preference for Retired/Separated Employees With Material Account Balance
- Actively campaigns to keep assets in plan
- Prefers assets stay in plan but does not encourage it
- Prefers assets roll out of plan at separation
- No preference