Will your employees be ready for retirement?
The Federal Reserve’s recently published report shows some improvement in the economic well-being of U.S. households, but it also highlights some startling concerns. More than 60% of Americans are not on track with retirement savings. Nearly 25% skipped necessary medical care because they couldn’t afford the cost. These findings echo results from an NHP survey finding that almost 75% of Baby Boomers are delaying retirement due to unforeseen medical expenses.
What can you do about it?
Ensure that your employees fully understand any and all healthcare or retirement benefits you offer. Giving them access to an agent they can direct their questions to is helpful, but it would be even more beneficial to have company meetings with an agent to address any concerns and go over any changes in plans offered. This will alleviate some of their financial stress and in turn make for a more productive office.
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