Many millennials are looking for their company’s employee benefits program to go beyond the typical healthcare and retirement plan by also addressing other key priorities, such as student loan assistance, financial education, and flexible schedules. While news headlines sometimes turned their demands into stories of “entitled” or “needy” millennials, at the core, their goals are similar to past generations - they want help to take actionable steps towards achieving a healthier lifestyle -  mentally, physically, and financially.

When you think about a 401(k) plan, do you consider why it has risen to such a popular option over a pension plan? Initially, when the IRS created the code that introduced 401(k)’s in the early 1980s, it was to give high ranking executives an added benefit to their pension plan. Today, most companies have done away with pensions plans and exclusively use defined contribution plans, such as 401(k)s and 403(b)s, as a way to mitigate costs.