07.14.26

Workers Say the 401(k) Is No Longer Enough to Win Them Over

by: Steve Randall

Nine in 10 workers consider a 401(k) essential or very important when evaluating a job, but most now view the benefit as a baseline rather than a differentiator, according to a Vestwell survey. Employees said immediate financial pressures are limiting their ability to save, with 72% reporting that day-to-day expenses have affected retirement contributions. Workers expressed interest in benefits that address current needs alongside long-term savings, including emergency savings accounts, student loan support and financial wellness tools. The findings suggest employers and advisors may need to pair retirement plans with broader financial benefits to improve participation and retention.

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