2024 Workforce Trends Report Series on Financial Wellbeing

This document is a report within the 2024 Workforce Trends Report Series, focusing on financial wellbeing and retirement plan benefits. It aims to provide insights into the current and emerging trends affecting employee financial health, particularly in light of the SECURE 2.0 Act. The report outlines the importance of retirement plan benefits and supporting financial coverages, emphasizing the need for employers to address diverse financial needs among their workforce. It details how effective communication and tailored financial wellbeing programs can enhance employee engagement and satisfaction. The findings are based on data collected from the US Benefits Strategy & Benchmarking Survey, which included 3,552 organizations. The report discusses best practices for retirement plan design, fiduciary responsibilities, and compliance with new regulations introduced by SECURE 2.0. Additionally, it highlights the significance of individualized communication strategies to connect employees with the appropriate resources, ultimately aiming to boost their financial confidence and stability.