Retirement Readiness

Retirement Readiness typically refers to being financially prepared for retirement, or the degree to which an individual is on target to meet his or her retirement income goals so that their standard of living enjoyed while working will be maintained after retirement.

In order to increase the likelihood that your employees are ready for retirement, we need to show them how to make small sacrifices today toward the goal of replacing their paycheck during their longest period of unemployment.


Retirement_Readiness


We need to encourage all participants to ask themselves these questions:

  • Will I have sufficient money for retirement?
  • Will my savings last through retirement?
  • What if something goes wrong? 

The benefits of increasing the likelihood your employees are ready for retirement goes beyond each individual. Retirement Readiness can help deliver:

  • Employer benefit costs can be reduced (employees who worry less about finances are more productive)
  • Participants may save more with reduced plan costs
  • Strong benefit plans normally improve company value and internal competitiveness
  • Employer and plan participants realize the efficiencies


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