Workers are planning to remain in the workforce longer, and many are counting on their employers to help them solve their financial challenges through increased pay and better employee benefits. Due in large part to uncertainty and a lack of savings, over half of today’s employees plan to work until age 65 and beyond.
ADP® Retirement Services commissioned Retirement Insights LLC to conduct a study to better understand employee retirement preparations and outlook. Some findings:
- Over half of employees save less than $5,000 per year for their retirement
- Many believe their employer can help solve their financial difficulties through increased compensation and better benefits