retirement

Surging Credit Card Debt: Strategies for Employers to Help Bolster Retirement Readiness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
With U.S. credit card debt recently soaring to a record high of $1.08 trillion, employers face a pivotal moment. This staggering amount, a $48 billion escalation since the second quarter and a $154 billion increase year-over-year, is a cautionary signal for Americans’ financial stability. The compounding pressures of post-pandemic recovery and inflation have pushed household  Read More →
Proposed Legislation Aims to Help Young Workers Put Time on Their Side
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Retirement planning often directs attention toward mid-career 401(k) participants and those nearing retirement — and understandably so, given their tighter timeline to secure post-retirement financial stability. But what about the youngest members of the workforce — the 18- to 20-year-olds, or those even younger? This demographic faces a potentially more challenging economic outlook than their  Read More →
Boosting Lower Wage Earners’ Retirement Readiness
Team SummitEmployee Outcomes, Employer Resource Center, Plan Operations & AdminComments are off for this post
A recent Vanguard report sheds light on the pressing challenges faced by retirees across different income brackets. The findings reveal that lower-income workers allocate a significantly larger portion of their pre-retirement income to meet their daily needs, leaving them with a substantial shortfall in retirement readiness — even when factoring in Social Security benefits. The  Read More →

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