Your employees may have an app-titude for retirement readiness

Saving for retirement can be a daunting task for your employees. In fact, two-thirds of workers admit they don’t know as much as they should about retirement investing. This lack of knowledge can mean your employees run the risk of not saving enough for retirement.

One way to alleviate this education gap is through resources that make saving for retirement easier, such as a mobile app. A recent article in Credit Union Management cited the finding that 66 percent of both millennials AND boomers ranked mobile apps as important for tracking the value of their retirement savings.

That means demand for on-the-go retirement plan access. And, the good news is, employers are answering. Today, fifty-four percent of large companies have an app for their retirement plans. Their employees can manage their retirement plans from anywhere, giving them the ability to conveniently monitor their retirement savings. This may help employees get or stay on-target to retire when they prefer. Mobile apps help take the guesswork out of understanding retirement savings.

An example of a retirement plan app is the BenefitsForYou app from CUNA Mutual Retirement Solutions. It gives users

convenient access to account balances, investment performance, rate of return, RetireOnTarget, and more. Employees can see their 401(k) and any other retirement savings plans in their BenefitsForYou account.

For a quick one-minute tour of this new tool, visit our website, where you can view a demonstration of the app interface and features. It’s available for download on both Google Play and the App Store.

Rob Peters

Rob Peters

Rob Peters is a retirement strategist for CUNA Mutual Retirement Solutions. For more information, contact him at Web: Details