Survey says: Employers know there is a retirement crisis, but they are unaware of the options that can help solve it.
 

The 2018 Millennium Trust Small Business Retirement Survey reveals interesting insights about employer and employee disconnects on retirement benefits, lack of employer awareness of alternative savings options, and millennial feelings and savings habits.

 

 

 

23%
of employers researched
programs other than 401(k).

We need to do a better job educating employers on the retirement benefit options.

Two-thirds of small employers view cost as the biggest barrier to offering a retirement plan, yet less than a quarter of them have researched retirement benefits for their employees other than a 401(k). It’s on the retirement industry to educate these businesses on their options when a 401(k) isn’t the right for their situation.

Retirement in America: A Story in 3 Infographics.

45%
of employers have not
researched any retirement
programs.

90%
of Millennials say a retirement
plan is an important factor in
staying with or choosing an employer.

71%
of employers would prefer a
private sector financial firm to
administer a retirement plan.

Small Business Meeting

When a 401(k) doesn't fit, Workplace Savings is Legit.

Millennium Trust’s Workplace Savings is designed for businesses where 401(k) plans may not be the best fit. We aim to increase employee access to tax-advantaged retirement savings at work, all while minimizing the cost and time required of the employer.

Small Business Survey Making Headlines
Media Inquiries: Kevin Dinino, KCD PR, 619-739-4265 | kdinino@kcdpr.com

Get more information about the Small Business Retirement Survey and Workplace Savings.

  

*The 2018 Millennium Trust Small Business Retirement Survey was conducted among 500 decision makers at companies with less than 150 employees that do not offer any type of retirement savings option, and 500 employees who are working full-time at employers with no retirement savings option between September 28-October 8, 2018. The survey was commissioned by Millennium Trust Company and conducted by CITE Research.

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