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Administration August 9, 2012
Employees Asking More Retirement Questions
August 9, 2012 (PLANSPONSOR.com) - Employees are increasingly
focused on retirement planning, according to a report.
Reported by Jay Polansky
Financial Finesse, a financial education company, said retirement planning questions made up 32% of total questions received by the company’s financial planners in Q2 2012, up from 25% in Q2 2011, 20% in Q2 2010 and 14% in Q2 2009.
However, employees’ retirement preparedness remains dangerously low, with the majority indicating they haven’t run a retirement projection or taken a risk tolerance questionnaire to appropriately allocate their assets.
There are early signs that employees’ increased focused on retirement planning, coupled with strong market returns, is beginning to affect their confidence—18% of employees year-to-date indicate they are on track to retire versus 14% in Q1 2012.
The full report is available here.