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More than 20 leading Minnesota employers – including Supervalu and Target – have pledged to help their employees close critical gaps in two key areas of personal finance - retirement savings and use of direct deposit for pay - in a statewide initiative that will impact thousands of Minnesota families.

According to a press release, " The employer-led initiative is a response to troubling trends that, unless reversed, could spell disaster for the state's economic future. Less than half of Minnesota workers participate in an employer-sponsored retirement savings plan, including more than half a million full-time workers in the Twin Cities metro area, and many do not use basic banking services.

"Financially Fit Minnesota's 20-plus pacesetter companies are committing to making measurable increases in employees' rate of retirement savings and/or direct deposit use, and their actions are expected to impact a projected 15,000 employees of all income levels over the next two years. The near-term goal is to bring more employers on board and increase the number of Minnesota households impacted to 50,000."

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