5 Ways Employers Can Support Employee Retirement Planning

Employee retirement planning is an important component of overall Financial Well-being. While many employers invest in retirement benefits, employees often face competing financial priorities that can make long-term planning difficult.

When employees understand their retirement benefits and feel confident making long-term financial decisions, the impact can extend far beyond retirement savings. Financial confidence can influence engagement, productivity, and how employees perceive the value of their benefits package.

For employers, EAP providers, and PEOs, supporting employee retirement planning can be an important part of a broader Financial Well-being strategy.

Key Takeaways

• Retirement planning is one component of employee Financial Well-being.
• Employees may be more likely to engage with retirement benefits when they understand how those benefits work.
• Financial education and personalized coaching can help employees make informed decisions.
• Employers, EAPs, and PEOs can support retirement planning through communication, education, and ongoing engagement.
• Retirement benefit engagement can help employees better appreciate the value of their overall benefits package.
  

Why Employee Retirement Planning Matters

Retirement planning isn't just a personal finance topic. It can also be an employee experience and benefits engagement opportunity.

Employees who understand their retirement benefits are often better positioned to make informed decisions about their financial future. At the same time, employers can help maximize the value of benefits they already provide by increasing awareness, education, and engagement.

Underutilized retirement benefits can represent missed opportunities for both employees and employers. When employees don't contribute enough to receive an employer match or don't understand available resources, they may not be fully benefiting from their compensation package.

Supporting retirement education isn't simply about encouraging employees to save more. It's about helping employees understand their options and feel more confident navigating financial decisions.

MSA member-reported data reinforces this gap: while 66% of employees said they contribute at least 5% of income toward retirement, nearly half, 47%, said they’re unsure if they’re on track to retire, and another 21% said they know they are not on track.¹

Retirement Planning Is Part of Financial Well-being

Retirement planning rarely exists in isolation.

Employees may be balancing competing priorities such as budgeting, debt management, emergency savings, childcare expenses, or housing costs. For many employees, these more immediate concerns take priority over long-term retirement goals.

Among mid-career participants in a recent MSA event, 35% cited their most pressing challenge as balancing retirement saving with other financial priorities. Additional concerns included understanding investments and risk tolerance (17%), managing debt (16%), and estate planning (13%).²

That's why many organizations are incorporating retirement education into broader Financial Well-being initiatives. When employees feel more confident managing their day-to-day finances, they may be better positioned to engage with retirement planning and other long-term financial goals.

Internal Link Opportunity:
Employee Retirement Planning: Why Saving Alone May Not Be Enough

5 Ways Employers, EAPs, and PEOs Can Support Employee Retirement Planning

1. Elevate Awareness of Matching Opportunities

Many employees don't realize they're missing out on employer matching contributions. Clear communication can help employees better understand the value of this benefit.

How you can help:

• Explain your match structure using simple, real-world examples.
• Reinforce that the employer match is part of total compensation.
• Integrate match education into onboarding and annual benefits communications.
• Use your EAP or Financial Well-being partner to offer one-on-one coaching sessions that help employees understand contribution options.

2. Provide Clear, Accessible Education on Contribution Strategies

Employees often want to save more but feel unsure how to start or how much to contribute.

How you can help:

• Offer educational guidance on setting contribution goals at different life stages.
• Share calculators or worksheets that help employees visualize long-term impact.
• Provide non-judgmental coaching to help employees balance retirement savings with other financial priorities.
• Use micro-learning resources such as short videos, infographics, or checklists.

3. Make Retirement Planning Part of Whole-Person Well-being

Employee retirement planning is closely connected to financial, mental, and emotional well-being.

How you can help:

• Integrate retirement planning into your overall well-being calendar.
• Encourage employees to review their retirement plan during key life events.
• Provide coordinated support, including retirement education, budgeting resources, debt management education, and stress management resources.
• Highlight the confidence and peace of mind that can come from long-term planning.

4. Support Engagement Through Personalized Guidance

Generic retirement information can feel overwhelming. Personalized support can help employees connect educational concepts to their individual circumstances.

“I love working with [my Money Coach]. He has a wealth of knowledge and a warm manner [...] He equips me with the skills and tools I need to succeed in my retirement future and with money management overall.”

 

– MSA Member

How you can help:

• Offer one-on-one financial coaching sessions.
• Recognize that employees at different stages may need different messaging.
• Provide practical examples that help employees understand the potential impact of their decisions.
• Make retirement conversations approachable and easy to understand.

5. Reinforce That It's Never Too Early, and Never Too Late

Employees sometimes believe they should have started saving earlier, which can lead to avoidance or discouragement.

How you can help:

• Emphasize progress over perfection.
• Offer messaging tailored to employees at different career stages.
• Encourage small, consistent improvements over time.
• Provide coaching that helps employees identify realistic next steps.

How EAPs and PEOs Can Support Employee Retirement Planning

Employers are not the only organizations helping employees navigate financial decisions.

EAPs and PEOs are increasingly looking for ways to support employee Financial Well-being through education, coaching, and access to trusted resources. Retirement planning can be an important part of that support strategy.

By incorporating financial education and coaching into broader employee support programs, EAPs and PEOs can help employers deliver a more comprehensive employee experience.

Internal Link Opportunities: (Article suggestions to write in the near future, or find current ones to link here)

• How Financial Wellness Fits Into an EAP
• Financial Wellness for PEOs

Potential Benefits for Employers

Employers that invest in retirement education and employee Financial Well-being initiatives may experience benefits such as:

• Greater awareness of employer-sponsored benefits
• Increased engagement with retirement plans
• Improved utilization of employer matching contributions
• Greater appreciation of the overall benefits package
• Increased employee confidence around financial decisions

Personalized support can also help employees make measurable progress. MSA members working with a Money Coach reported an average retirement contribution increase of 4.2% from annual salary.³

Supporting employees' financial lives is about more than just retirement planning. It can help create a workplace culture that prioritizes education, empowerment, and long-term well-being.

Frequently Asked Questions

Why do employees underutilize retirement benefits?

Employees may not fully understand available benefits, may face competing financial priorities, or may feel uncertain about how to get started.

How can employers improve retirement plan participation?

Employers can improve participation through ongoing communication, financial education, personalized coaching opportunities, and clear explanations of available benefits.

What role does financial education play in employee retirement planning?

Financial education can help employees better understand retirement plans, employer matching contributions, and long-term planning concepts, allowing them to make more informed decisions.

Can financial coaching improve benefits engagement?

Personalized coaching can help employees understand available benefits, address financial concerns, and make more informed decisions about their financial future.

Next Steps for Employers, EAPs, and PEOs

• Review retirement plan participation and engagement data.
• Identify opportunities to improve benefits communication throughout the year.
• Consider how retirement education fits into your broader Financial Well-being strategy.
• Evaluate whether employees have access to personalized financial coaching or educational guidance.
• Create ongoing touchpoints that encourage employees to engage with retirement benefits and long-term financial goals.
  

Take the Next Step

Interested in supporting employee Financial Well-being through educational guidance and personalized coaching?

Schedule a conversation with our team to learn how MSA helps employers, EAPs, and PEOs support employees at each stage of their financial journey.

¹ My Secure Advantage, Inc. March 2025. Based on MSA member self-reported live event data. 4,066 responses.

² My Secure Advantage, Inc. June 2025. Based on MSA member self-reported live event data. 2,358 responses.

³ My Secure Advantage, Inc., January 2025. Based on self-reported data from MSA members working with a coach on this specific issue, from 1/1/23 - 12/31/24.