Tag: 401(k)

Feb
05
2019

Couple 401(k) and Financial Wellness Plans to Help Your Staff

by CoreMark | posted in Blog, Newsletter

The first source of financial advice for nearly 65% of U.S. workers is their 401(k) plan provider, according to a survey by T. Rowe Price. The top three objectives for advice that workers were seeking are: Saving for retirement outside of the workplace retirement plan (74%). Saving to fund health care expenses in retirement (74%). Saving in the workplace retirement plan (71%). The results of the study show how much value employees put on their retirement plans and how active they really are in trying to secure a sound financial future for themselves. With the stresses of rising costs, particularly…
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Oct
27
2017

Small Business Owners Should Start Now to Prepare for Retirement

by CoreMark Insurance Services | posted in Blog

Small business owners are great at providing jobs, but in the aggregate, most are failing when it comes to preparing for a comfortable retirement for themselves and their spouses. First, most of them are reinvesting almost everything into their businesses. According to a survey from the Bank of Montreal, 58% of business owners take out less than $25,000 per year to pay themselves, and more than three-quarters say they take out less than $50,000. Only 8% of business owners reported being able to take out more than $100,000 over the past year. Meanwhile, multiples in many industries are down, and…
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Jun
02
2017

Right Mix of Benefits Crucial to Hiring, Retaining Millennials

by CoreMark | posted in Blog

As the millennial generation continues filtering into the workforce amid a tightening job market, nearly one-third of them have turned down a job offer because of poor insurance offerings, a new study has found. Making sure that you have the right mix of benefits, including voluntary benefits, is important considering that other studies have found that millennials are already hard to keep on the payroll. This has been underscored by studies that found that one in four millennials were considering looking for new work in the next year. In addition, they are more cautious than boomers or Gen Xers in…
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