The full report details these themes and other takeaways for employers. Download and read The Staying Power of 401(k)s for the full story.
Maximize Your 401(k): A Survey for Employers
We asked Betterment for Business plan participants what they thought about employers offering a 401(k). Find out if it's still earning its place in the HR recruitment arsenal.
In the 40 years since their creation, 401(k) plans have become a go-to way for employers to demonstrate their commitment to their employees’ financial wellness both during and after their working lives. But in a competition to see who can offer the trendiest benefits, is this tried-and-true offering still as valuable to employees as plan sponsors hope it is?
We asked 845 Betterment for Business plan participants what they thought—and learned that the 401(k) is still earning its place in the human resources recruitment arsenal.
401(k)s are a valuable benefit for job seekers…
- 67% said that a good 401(k) was very important or important in their evaluation of a job offer
- 46% said offering a match played a role in the decision whether to take a job
…and once they’re enrolled, plan participants care very much about their plan and their retirement outcomes
- 75% signed up for a 401(k) because they are concerned about and focused on their retirement readiness
- 64% check their accounts at least once a pay period
- 85% strongly agree or agree that it’s important that their plans have transparent and low-cost fees
401(k) plan administration services provided by Betterment for Business LLC. Investment advice to plans and plan participants 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 FINRA/SIPC. Betterment LLC and Betterment Securities are affiliates of Betterment for Business LLC.
Reducing Your Biggest Retirement Expense: Where You Live
You’ll probably want to retire somewhere different than where you live right now. Let’s make that part of your retirement plan.
401(k) Automatic Enrollment: The Easiest Way to Help Employees Save
Answers to the most frequently asked questions about 401(k) automatic enrollment.
A Message to Employees with Betterment 401(k) plans
In addition to the effect the Coronavirus has had on our daily lives, the related investment volatility and economic uncertainty have understandably raised concerns for many. We hope the below will be helpful during this stressful time.
Explore your first goal
Our high-yield account built to help you earn more on every dollar you save.
This is a great place to start—an emergency fund for life's unplanned hiccups. A safety net is a conservative portfolio.
Whether it's a long way off or just around the corner, we'll help you save for the retirement you deserve.
If you want to invest and build wealth over time, then this is the goal for you. This is an excellent goal type for unknown future needs or money you plan to pass to future generations.