A recent article from HR Magazine, “Paving the Road to Retirement” featured some of the business reasons why employee retirement security should be a priority for Plan sponsors.
- Employees with secure retirement futures allow Plan sponsors to plan for and develop the skills of younger employees, anticipating there will be room for advancement
- Employees putting off retirement because of financial insecurity may not be contributing their best work to the company, reducing productivity and potentially affecting the company’s competitive advantage
- Older workers may develop health problems that reduce their productivity and may increase the costs of company healthcare
If Plan sponsors focus on participants’ retirement health, companies may be better able to anticipate their future staffing needs and allow loyal employees to retire with dignity and financial security.
Does your Plan promote a secure retirement future?