You’ve heard this before: Beef up retirement plan offerings to help employees rebuild their nest eggs. But there are other benefits that help workers feel more financially stable.
In a recent survey of 1,007 adults by Financial Services Roundtable, 52% of respondents said their entire employer-provided benefits portfolio (not just retirement benefits) protects their financial well-being.
When asked to rate benefits on a scale of one to five in terms of which provided them with financial protection:
- 85% rated health insurance a five
- 69% gave retirement plans a five (which increased to as high as 80% as workers’ ages and incomes rose)
- 48% rated life insurance a five (but 67% among those making less than $35,000 per year rated it a five)
- 39% rated long-term disability a five (which rose to 52% among those making less than $35,000), and
- 35% gave short-term disability a five (which rose to 45% among those making less than $35,000).