Retirement Trends – 3 Quick Facts

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

1. In the last five years, the number of health savings accounts (HSAs) has grown more than 60% and the number of assets has grown by 250%. In 2020, the average balance for HSA accounts with invested assets was $22,496.¹
2. Defined contribution plan participants’ loan activity slowed down in 2021. At the end of December 2021, 12.5% of participants had loans outstanding, compared with 14.8% at year-end 2020 and 16.1% at year-end 2019.²
3. The top four retirement planning areas where participants want help are calculating a retirement savings goal (44%), receiving advice on how to invest a 401(k) (39%), figuring out how to create income in retirement (35%), and anticipating taxes in retirement (35%).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. Employee Benefit Research Institute, Plan Sponsor, “Mega-Trends Have Emerged That Drive Growth in HSAs” 2. Investment Company Institute, National Association of Plan Advisors, “DC Plan Participants Maintain Commitment to Saving” 3. 401(k) Survey from Schwab Retirement Plan Services