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Benefits March 23, 2009
Study Finds Employer-Worker Disconnect on Education/Advice
March 23, 2009 (PLANSPONSOR.com) - Plan sponsors and
employees tend to see some key retirement planning issues
differently, including the always important area of
education/advice, a new study suggests.
Reported by Fred Schneyer
MetLife’s Annual Employee Benefits Trends Study finds that while 51% of workers polled say they are interested in access to financial planners at work, only 37% of employers say they have a responsibility to provide retirement advice/guidance.
In fact, for boomers born between 1946 and 1955, those interested in such a workplace benefit jumped from 41% in August 2008 to 55% three months later.
“It is hard to overestimate employee appetite for advice and guidance in financial planning-and specifically retirement planning-offered through the workplace,” MetLife says in the report. “…This desire has understandably increased in the current economic conditions, especially among older workers.”
In general, the survey finds 72% of employees pointing to retirement benefits as a significant factor in their influencing loyalty, compared with 40% of employers who recognize that dynamic.