A study conducted by LIMRA surveyed American financial decision-makers earning between $40,000 and $99,999. The survey found that nearly a quarter of middle-income Americans are saving nothing at all for their retirement; workers age 55 and up being the worst offenders with 26% saving nothing at all. American workers know they need to get on track by saving more, but they plan to push retirement back, or not retire at all. However, it is vital that workers plan ahead for any possibility. Research shows that more than half of the current retired population retired earlier than they had originally planned, often involuntarily.
Show your employees you care about their future well-being -Total Compensation Statements can help to prompt employees to take action and plan for their futures.
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Read more at Employee Benefit News – Americans saving little for retirement, Correia, M. (2012, December)