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Our latest Logica® Future of Money Study reveals the growing importance of employer-provided financial education and resources. Mainly, people are struggling with the reality of not being able to save enough for retirement and are looking to employers for help. Concerns about retirement savings and investing span all generations. Younger employees like Gen Z and Millennials worry about saving enough—despite starting early. Older generations report they are going to delay retirement, with many planning to work full or part-time after retirement.
Overall, 81% of employees share that they feel it is important for employers to offer programs to help manage finances, especially during periods of widespread financial strain. This number is even higher among Gen X (91%) and Millennials (87%). This is a significant increase over the last wave of our study.
Despite challenges most Americans have maintained or increased 401(k) contributions—highlighting the vital role of employer-sponsored plans in retirement strategy. The Future of Money Study found this is particularly true among younger generations, with 26% of Gen Zers actually contributing more this year than last year to their 401(k) programs. There is definitely a growing need for employers to provide strong financial programs and guidance to help employees plan effectively for retirement.
To learn more, download our Logica Future of Money Study highlight report or get all the details through the Insights Kit.
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