Retirement education and planning resources can help employees assess their options and support employers’ workforce planning.
When employees retire later than anticipated, employers may need to adjust succession and staffing plans. The effects on costs or business growth depend on each organization’s circumstances.
Some employees postpone retirement because they do not yet feel financially ready; others prefer to keep working. They may be asking themselves:
- Have I saved enough?
- Can I afford to retire without outliving my savings?
- What will I do in retirement?
Retirement income education, planning tools, and thoughtful plan design can help employees consider these questions and assess their financial readiness to retire. Their effects on an employer’s workforce and costs depend on the plan and circumstances.
Potential business considerations
Depending on the employer’s circumstances, later-than-expected retirements may call for review of:
- Benefit budgets
- Job planning challenges
- Reduced organizational agility
KFF’s 2025 Employer Health Benefits Survey reported higher average total annual health insurance premiums at firms where at least 35% of workers were age 50 or older: $9,599 versus $9,068 for single coverage and $27,699 versus $26,332 for family coverage. These comparisons do not establish that delayed retirement caused higher premiums or show how much of the premiums employers paid.[1]
When leadership transitions occur later than expected, employers may need to revisit succession, development, and staffing plans.
As business priorities change, employers may need to assess training, skills, and staffing needs across the workforce.
Why retirement income matters
As retirement approaches, many employees shift their focus from “How much have I saved?” to “Can I afford to retire?”
This is not always an easy question to answer. A retirement account balance doesn’t tell employees how much income it may provide or whether it will be enough to support their lifestyle throughout retirement.
Research finds more than four in five workers say they are interested in guaranteed monthly income options, suggesting many are looking for greater certainty about how they’ll replace their paycheck in retirement. [2]
Expanding retirement education beyond saving and investing can create opportunities to help employees better understand their retirement readiness, increase their confidence, and assist them in making more informed decisions about the time to retire.
How we can support retirement readiness
Building retirement readiness is an ongoing process. By introducing planning resources early and providing ongoing support, employees may be better prepared to retire when they’re ready.
Here are several ways we can help support retirement readiness:
- Offer retirement income education. We can help employees understand not only how much they need to set aside, but how savings, Social Security, pensions, and other income sources may work together to support retirement.
- Provide retirement planning tools. Offering retirement income projections, calculators, and other resources that help participants estimate future monthly income and determine whether their current savings strategy is likely to support their retirement goals.
- Encourage periodic retirement readiness assessments. Regular check-ins can help participants identify potential shortfalls in projected retirement income, adjust their savings strategy, and stay on track toward meeting their retirement income needs.
Strengthen your workforce strategy
Retirement readiness is one consideration in workforce planning. Helping employees assess their options may inform an employer’s succession planning, although outcomes depend on its workforce and circumstances.
We can help you evaluate your plan’s retirement readiness strategy and identify opportunities to better prepare employees for retirement while supporting your organization’s business objectives.
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Greenspring Advisors
One West Pennsylvania Avenue, Suite 500
Towson, Maryland 21204 | 443-564-4600
Greenspring Advisors is a registered investment adviser and does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.
This information is provided as a general guide to educate plan sponsors. It is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.
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[1] Kaiser Family Foundation (KFF). “Employer Health Benefits Survey: 2025 Annual Survey Summary of Findings.” 22 Oct. 2025.
[2] Employee Benefit Research Institute (EBRI). “2026 Retirement Confidence Survey.” 20 Apr. 2026.
