Retirement Planning is critical for employees. We offer the top programs at no cost to the employer. The challenges are huge. Less than 42% of all employees participate in a 401k Retirement plan.
Worst, here are some of the facts:
•Over half of all workers have lost faith in the Social Security System.
• 61 percent of Americans in 2009 were living paycheck to paycheck. That was 43% in 2007.
• 46 percent of American workers have saved less than $10,000 for retirement. (29% less than $1,000)
• 36 percent of workers don't contribute anything toward retirement savings.
The average percent of salary contributed to a 401(k) 6.8%
Percent of employees who contribute when an employer also contributes 10%
Percent of employees who contribute when an employer does not contribute 7.4%
These are lousy results which only means the 401k administrators and consultants are not doing their jobs. Our participation percentages are substantially better than the National Averages.
• 43 percent "can't wait to be retired".
• 41 percent prefer not to retire.
• 74 percent of workers expect to work after retirement.
• According to AARP, 40 percent of baby boomers plan to "work until they drop".
• 24 percent of workers in the United States have postponed their retirement at least once in the past year.
• The highly educated of retirement age tend to work longer.
• 52 percent of potential retirees plan to work part-time. Nine percent plan to work full-time.
• In 2008 those working at age 65 - 69 (35%), age 70 - 74 (21%), age 75 - 79 (13%).
Your employees deserve the best opportunity to have a retirement program which will help them meet their goals. It will help your company also meet its goals.