student loans – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 01 Nov 2024 19:12:49 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 64% of Americans wish they’d started saving for retirement earlier: survey https://www.benefitscanada.com/news/bencan/64-of-americans-wish-theyd-started-saving-for-retirement-earlier-survey/ Mon, 29 Jul 2024 13:00:29 +0000 https://www.benefitscanada.com/?p=158448 Nearly two-thirds (64 per cent) of Americans say they wish they’d started saving for retirement when they were younger than age 25, according to a new survey by Voya Financial Inc. The survey, which polled more than 1,000 Americans adults, found more than half said they started saving for retirement when they were between ages 18 […]

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]]> 20% of U.S. workers say being able to save was their biggest financial worry last year: survey https://www.benefitscanada.com/benefits/health-wellness/20-of-u-s-workers-say-being-able-to-save-was-their-biggest-financial-worry-last-year-survey/ Wed, 12 Jun 2024 13:00:28 +0000 https://www.benefitscanada.com/?p=156735 A fifth (20 per cent) of U.S. employees say contributing to their savings account has been their biggest financial worry in the last 12 months, according to a new survey by career website Zety.com. The survey, which polled 1,000 workers, found respondents have also been struggling with maintaining the same standard of living as they had […]

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]]> Chipotle expanding benefits offering to focus on career development, student debt https://www.benefitscanada.com/benefits/health-benefits/chipotle-expanding-benefits-offering-to-focus-on-career-development-student-debt/ Fri, 26 Apr 2024 13:00:13 +0000 https://www.benefitscanada.com/?p=154622 In anticipation of 25 per cent to 35 per cent growth in Canada by the end of 2024, restaurant chain Chipotle Mexican Grill Inc. is making staff development a key part of its attraction and retention strategy. This focus on employee development has contributed to an internal promotion rate of 87 per cent and has led […]

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]]> 45% of U.S. DC plan sponsors considering adding emergency savings options in 2024: survey https://www.benefitscanada.com/news/45-of-u-s-dc-plan-sponsors-considering-adding-emergency-savings-options-in-2024-survey/ Tue, 23 Jan 2024 20:00:08 +0000 https://www.benefitscanada.com/?p=151009 More than two-fifths (45 per cent) of U.S. defined contribution pension plan sponsors say they’re considering implementing emergency savings features, according to a survey from MFS Investment Management. The survey, which polled 1,000 DC plan members and more than 140 plan sponsors, found nearly a quarter (23 per cent) of plan sponsors said they’d take […]

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]]> Survey finds 76% of U.S. employees concerned about ability to save for retirement https://www.benefitscanada.com/pensions/retirement/survey-finds-76-of-u-s-employees-concerned-about-ability-to-save-for-retirement/ Wed, 08 Nov 2023 20:00:54 +0000 https://www.benefitscanada.com/?p=146736 While more than three-quarters (79 per cent) of U.S. employees say they’re satisfied with their employer-sponsored pension plan, 76 per cent say they’re concerned about their capacity to save for retirement due to economic volatility, according to a new survey by Arthur J. Gallagher & Co. The survey, which polled more than 300 employees and […]

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]]> 60% of global DC pension plan members say inflation impacting retirement plans: survey https://www.benefitscanada.com/pensions/retirement/60-of-global-dc-pension-plan-members-say-inflation-impacting-retirement-plans-survey/ Tue, 24 Oct 2023 19:00:52 +0000 https://www.benefitscanada.com/?p=145772 Nearly two-thirds (60 per cent) of global defined contribution pension plan members say they’re thinking differently about retirement amid rising inflation, according to a new survey by MFS Investment Management. The survey, which polled roughly 4,000 global DC plan members, found workers younger than age 45 were more likely to say they’ll need to save more […]

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]]> Younger 401(k) participants struggling with emergency savings, student debt: survey https://www.benefitscanada.com/pensions/governance-law/younger-401k-participants-struggling-with-emergency-savings-student-debt-survey/ Mon, 19 Jun 2023 19:00:28 +0000 https://www.benefitscanada.com/?p=139895 Generation Z (28 per cent), millennial (25 per cent) and generation X (21 per cent) 401(k) members rank a lack of emergency savings as one of the most common factors causing financial stress, according to Cerulli Associates’ latest survey. In light of the provisions related to emergency savings accounts and student debt under the U.S.’s […]

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]]> Majority of U.S. DC pension plan sponsors say data, privacy concerns impacting adoption of new tools: survey https://www.benefitscanada.com/pensions/cap/majority-of-u-s-dc-pension-plan-sponsors-say-data-privacy-concerns-impacting-adoption-of-new-tools-survey/ Thu, 11 May 2023 13:00:58 +0000 https://www.benefitscanada.com/?p=137710 A majority of U.S. defined contribution pension plan sponsors say they have some (70 per cent) or significant (10 per cent) concerns over data sharing and privacy that impact their adoption of new plan products and features, according to a new survey by the Defined Contribution Institutional Investment Association. However, the survey — which polled […]

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]]> New U.S. pension law strengthening retirement savings for workers https://www.benefitscanada.com/pensions/retirement/new-u-s-pension-law-strengthening-retirement-savings-for-workers/ Fri, 13 Jan 2023 14:00:16 +0000 https://www.benefitscanada.com/?p=132425 A new U.S. law that aims to strengthen retirement support for workers holds valuable lessons for Canada’s retirement system, says one pension consultant. The Secure 2.0 Act of 2022, which was signed into law in December, contains several provisions to enhance the U.S. retirement system and boost retirement savings, including a requirement for plan sponsors to […]

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]]> Employers using debt repayment benefits to retain employees, alleviate financial stress https://www.benefitscanada.com/benefits/health-wellness/employers-using-debt-repayment-benefits-to-retain-employees-alleviate-financial-stress/ Thu, 08 Sep 2022 13:00:39 +0000 https://www.benefitscanada.com/?p=126459 In 2019, Nick Smith graduated with $50,000 worth of debt — $30,000 in student loans and $20,000 with a student line of credit. Low-paying jobs and a high cost of living made it hard for Smith to make a dent on his debt until he got hired as a mechanical technologist in Halifax at Dillon Consulting […]

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