Retirement Trends – 3 Quick Facts

Below are three retirement facts we thought you would find interesting:

1. A survey of 2,622 respondents revealed that the Great Resignation was still on the minds of many, with 51% still considering quitting their current job. Of those who did quit and had a 401(k), 21% said they cashed it out.¹
2. Three out of four plan sponsors made a change to their defined contribution plan in the last two years and expect to make at least one change over the next two years. Most of the expected enhancements will focus on the employee experience (82%) and financial well-being (78%).²
3. When asked to prioritize financial wellness benefits, employees ranked access to a high-quality 401(k) plan and 401(k) matching program as the most important—followed by a flexible spending account or health savings account, and a wellness stipend.³

Whether you are looking to start or transfer an existing 401(k) plan or are exploring other retirement vehicles such as a SEP-IRA, Jemma Financial can help you get the most out of your employer-sponsored retirement plan. Jemma provides comprehensive solutions that fit your organization to not only attract and retain employees but also give employees an opportunity to save for retirement.

We look forward to the opportunity of sharing our thoughts on ways to help your business and employees get the most out of your company’s retirement plan. Let’s start the conversation.

Sources: 1. Fidelity, “2022 State of Retirement Planning”, 2. Survey by Willis Towers Watson, Globe News Wire, “U.S. employers eyeing enhancements to defined contribution plans, WTW survey finds” 3. Betterment, “The Impact of The Great Resignation n Benefits Needs and Expectations”