Employees seek greater support from employers as they navigate both a solid labor market and persistently high costs of living
NEW YORK, Dec. 4, 2024 /PRNewswire/ — Betterment at Work, a leading provider of modern, scalable 401(k)s for growing businesses, today released the fourth installment of its annual survey on the state of retirement readiness and financial benefits across the U.S. workforce.
Betterment’s 2024 Retirement Readiness Report, which examines data from 1,000 full-time U.S. workers, found that while many employees feel a strong sense of long-term “retirement confidence,” anxiety around near-term finances is growing and impacting workplace productivity. Four-in-five respondents say it’s important that their employer provides them with strong financial benefits.
Key findings from Betterment at Work’s 2024 Retirement Readiness Report include:
“Our survey highlights a critical gap: while employees feel hopeful about their long-term finances, short-term anxieties drive poor decision-making and reduce productivity at work,” said Sarah Levy, CEO of Betterment. “Employers are positioned to close this gap with benefits and education that equip employees to manage financial challenges and foster financial confidence.”
Read or download the full report here.
Methodology
An online survey was conducted with a panel of potential respondents from August 24, 2024 to August 30, 2024. The survey was completed by a total of 1,000 respondents who are 18 years and older, and full-time employees. The sample was provided by Sago, a research panel company. All respondents were invited to take the survey via an email invitation. Panel respondents were incentivized to participate via the panel’s established points program, regardless of positive or negative feedback. Participants were not required to be Betterment clients to participate. Findings and analysis are presented for informational purposes only and are not intended to be investment advice, nor is this indicative of client sentiment or experience.
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This content from Betterment LLC and Betterment for Business LLC (d/b/a Betterment at Work) is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. The information contained is intended for educational purposes only and is not meant to constitute investment or tax advice. Advisory services provided by Betterment LLC, an SEC-registered investment adviser. Brokerage services provided to clients of Betterment LLC by Betterment Securities, an SEC-registered broker-dealer and member of FINRA/SIPC. 401(k) plan administration services provided by Betterment for Business LLC. Investments in securities: Not FDIC Insured • No Bank Guarantee • May Lose Value. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. © Betterment. All rights reserved.
About Betterment at Work
Betterment at Work is a leading provider of modern, scalable 401(k)s for growing businesses. Built with the same technology as Betterment, which manages over $50 billion in assets, our platform allows them to deliver a trusted and professional investing experience. Combined with dedicated compliance support, seamless payroll integrations, and customizable plan design features, employers benefit from a streamlined experience that sets a new standard for workplace retirement plans.
For more information, visit www.betterment.com/work.
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SOURCE Betterment
