By Noah Zuss
Source: Plan Sponsor
In an employer’s battle to attract and retain the best employees, enhanced workplace benefits and robust retirement plans are ammunition.
According to Jonathan Price, senior vice president and national retirement practice leader at Segal, employers that recognize the myriad financial challenges workers face—from everyday financial wellness habits to short-term budgeting and long-term retirement planning—are enhancing retirement and workplace benefits to recruit and retain workers, and help current employees feel more financially secure.
“What we’ve seen more and more conversations about in 2022 than I ever would have expected in 2012 is around [defined benefit] pension plans,” he says. “While it’s too early to say whether this will actually lead to employers changing plan designs or reopening plans that were previously closed or frozen, employers are speaking about or talking about them in 2022 in a way that we may not have expected three years ago.”