I’m sort of a geek when it comes to retirement planning surveys. I’m always looking for nuggets that are going to help people save more.
Although I know this is a perilous time for employment in general, it’s always essential to know how your employer will help you save for retirement.
“The pandemic has put pressure on the American workforce in ways few could have predicted and employees need support more than ever,” says Jonathan Bennett , head of Group Benefits at The Hartford. “Now is the perfect time for employers to address employees’ changing attitudes about benefits.”
What should you be looking for in terms of retirement-friendly benefits? Here’s what a Hartford survey found in terms of perks of “increased interest”:
- Employee assistance programs.
- Student loan repayment plans.
- Behavioral/mental health services.
- Wellness benefits
While these benefits may not appear to directly put money into your nest egg, they will help you get there. If you can get help paying for college loans, parental assistance or out-of-pocket medical bills, that will certainly free up more money for retirement savings.
Of course it’s up to employers whether they want to boost your benefits package. If in a job transition, you can seek employers that offer these perks. If you’re staying put, though, it doesn’t hurt to ask your HR department if they can improve their offerings.