National 401(k) Day? Here’s Why Retirement Awareness and Confidence Matters.

On Monday, many employees enjoyed a day off to celebrate their hard work on Labor Day. Today, employers can help their teams celebrate their future plans to take it easy in retirement — it’s National 401(k) day! 💸
This “holiday” might not have cute puppies like Dog Day 🐶 or be as cheesy as Pizza Day 🍕 but it’s a good reminder to encourage your employees to plan for their future and make sure they’re on track.
Millennials consider their retirement savings as incredibly important for their financial wellness, with 78 percent saying a 401(k) will be their largest or only source of retirement income. Additionally, 86 percent of Millennials consider a 401(k) a “must-have” benefit and expect support from their employer.¹
However, only about half (52 percent) of individuals participating in retirement savings plans believe they are “on track.”²
Your employee’s increasingly busy lives make it challenging to take time out and plan for the future, but 401(k) day might just be the reminder we all need. While asking young people who might be struggling with daily bills, credit card debt and student loans to contribute a big chunk of their income to their 401(k) won’t be well received, there are smaller steps to take.
Confidence starts with education, and resources like LearnLux that offer financial wellness tools as an employee benefit are a great way to start the conversation with your team.
Instantly give your employees access to fun, friendly and interactive content like:
401(k) Basics
401(k) Contribution Limits and Tax Advantages
401(k) Investment Options and Vesting
401(k) Leaving your Job, Access to Funds, and Loans
So, however you plan to celebrate National 401(k) Day 🎉 with your employees, help them keep their sights set on the future and build the confidence they need to feel great about their personal finances.

Sources: 1. Schwab Retirement Plans Survey, 2. 401k Confident a Matter of Education not Resources
