Enhancing Retirement Opportunities for Part-Time Employees

The SECURE Act and SECURE 2.0 have expanded access to employer-sponsored retirement plans for part-time employees, making it essential for plan sponsors to address their unique needs. Many part-time workers balance school, caregiving, or other obligations, often earning lower wages and facing greater financial pressures than full-time employees.

Women are disproportionately represented in part-time roles, frequently juggling caregiving responsibilities alongside financial planning. Tailored communication and onboarding strategies can help these employees understand their retirement options and the importance of saving early. Employers can also enhance participation by offering matching contributions at lower thresholds, providing tax-saving insights, and ensuring flexible access to financial education through digital tools and on-demand resources.

Since part-time workers may have less experience with retirement plans, simplified enrollment materials, webinars, and personalized support can help bridge the knowledge gap. Additionally, offering guidance on budgeting, health care costs, and emergency savings can help alleviate immediate financial concerns, making long-term saving more feasible.

By recognizing the challenges faced by part-time employees and fostering inclusivity in retirement planning, employers can empower all workers—regardless of their schedule—to build a stronger financial foundation for the future.