Do your benefits provide employees with a clear path to retirement?
We’re here to help you find new ways to engage your employees. They have been through a lot this year. The pandemic has caused many financial and mental challenges that may have taken a toll on retirement savings goals.
workforce generations
Learn more about the unique needs of each generation in the workforce
An effective retirement plan can benefit all of your organization’s employees whether they are younger or older workers. Each generation faces different challenges and we can work with you to help them plan for their financial future.
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Action steps to consider
Learn more about how you can engage a multi-dimensional workforce while also managing your costs.
Best Practices
Consider these best practices to help your employees achieve better outcomes.
Workforce Dynamics
Managing workforce changes
We know you are managing the complexities of the ever-changing workplace.
62% of employers offered financial wellness programs in 20192
Two in three workers would like more education and advice on how to reach their retirement goals3
Only 27% of workers are highly confident they will never run out of money in retirement4
Plan design
Plan design considerations to drive better savings practices
Enhance your retirement program, drive engagement and provide support for your multi-generational employees. Consider some of the following options as you consider what may work best for your plan.
Lifetime Income
See how you can help employees generate income to and through retirement.
Custom Default Solution
Take your plan’s default option a step further by offering an option that includes lifetime income.
Auto Solutions
Consider implementing automatic enrollment and increase options to your plan to help employees save more over time.
“It's critical to re-engage with employees… delivering relevant content that can help participants overcome their present-day challenges, help reduce their financial stress and empower them to take positive steps to improve their long-term financial wellness and retirement readiness.”1
Christina Cutlip
Senior Managing Director
Client Engagement and National Advocacy at TIAA
Get in touch
Learn how we can help engage your employees in the retirement plan
Call the Administrator Telephone Center, 888-842-7782, weekdays, 8 a.m. - 8 p.m. (ET)
1PLANSPONSOR Magazine, “Changing Messages About Benefits,” July 2020.
2The Cerulli Report, “U.S. Retirement Markets 2019: Looking Toward Holistic Solutions for Participants and Plan Sponsors,” December 2019.
3Transamerica Center for Retirement Studies, “20th Annual Transamerica Retirement Survey of Workers: Retirement Security Amid COVID-19: The Outlook of Three Generations,” May 2020.
4TIAA’s 2019 Lifetime Income Survey.
This material is for informational or educational purposes only and does not constitute investment advice under ERISA. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.
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