|Targeted News Service|
To raise awareness on the importance of financial education and retirement security during the 10th annual National Employee Benefits Day, the
"Employees and plan participants share many uncertainties when it comes to their retirement, and we are encouraged to see a growing number of employers offering beneficial financial education programs in the workplace, but there's room for improvement," said
Initial findings from the survey reveal that employers recognize that in order to increase employees' ability to manage money and retirement asset allocation, they must first provide them with the tools required to make sound financial decisions in their daily lives. Through financial literacy workshops, retirement income calculators and personal consultation services provided by employers, employees receive an understanding of their finances that helps them take control and manage their financial future.
Additional findings from the report, which shares information from 397 member organizations in
Approximately half of all organizations offer benefits literacy and retirement security education. Nearly two in five organizations feel a responsibility to educate workers on pension and benefit options, encourage retirement savings and help them become financially literate managers of their money. Half of organizations surveyed have experienced an increased demand from employees/participants for financial education in the last five years.
"There is an obvious need for employees to become better acquainted with their finances and prospects for retirement," said
National Employee Benefits Day was created in 2004 by the