Rising Financial Stress Impacts Retirement Savings: While 86% of employees still participate in 401(k) plans, 67% are cutting contributions across all savings accounts due to concerns around inflation and recession. Gen Z workers are most affected, with nearly half reducing their 401(k) contributions.
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Comprehensive Support is in Demand: Access to financial advisors, retirement investment planning, and income solutions top the list of desired services from both employees and HR leaders, pointing to a need for more holistic, goals-based retirement support.
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Advisor Access Influences Retention: 69% of HR leaders say access to professional retirement guidance is a top priority for employee attraction and retention. Over half of employees agree—especially those already using workplace benefits, who feel more secure and less rushed in their financial planning.
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Retirement Plans as Strategic Assets: The study underscores that next-generation retirement plans are not just about saving—they include long-term advisory, planning, and income solutions that support both employee well-being and organizational stability.
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Outlook for Employers: Companies that prioritize modern, advisor-integrated retirement programs can better navigate economic uncertainty, support employee financial health, and enhance talent loyalty.
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