Retirement benefits are increasingly playing a key role in helping employers attract and retain talent. In a recent PLANSPONSOR article, Groom principal David Levine discusses how employers view retirement plans as an important component of their overall compensation and benefits strategies.
“For a long time, many companies have viewed retirement not as a silo or a compliance item, but as part of a total rewards package,” Levine said. “In some cases, it’s table stakes, and it’s really viewed as an incentive and a retention tool.”
The article explores how plan sponsors can evaluate their retirement benefits against those offered by industry peers and regional competitors, identify opportunities to improve plan design, and better position their benefits packages to attract and retain talent. Levine also notes that benchmarking plan design is a settlor function rather than a fiduciary duty.
To read the full article, click here.
