Do you want to hold onto more employees over the long term? Offer them a retirement plan. A recent study by MetLife Insurance indicates that more than half of employees do their retirement investing and saving via their employers.

Specifically, 52 percent of workers get most of their financial and retirement products via the workplace, up 6 percent from 2007. The study also dealt with the related issue of employee retention. Many employees (72 percent) said that employers providing them with a retirement plan and related benefits is an important part of their loyalty to the company over the long term. However, while the study found that employers are aware of this desire for retirement-related benefits, a much lower percentage of those employers (41 percent) realized its role in company loyalty and employee retention.

By combining this increased desire by employees for an employer-sponsored retirement plan with the features of a NADART plan (such as automatic enrollment, Roth 401(k) Contributions and Target Dated Funds), employers could go a long way to keeping up enrollment and retaining more employees over the long term.

If you would like more details on NADART’s retirement plans or any of our plan features, please contact one of our Marketing representatives at (800) 462-3278, ext. 7161 or by e-mail at nadart401k@nada.org.