|
| Editor’s Note |
| Today, PLANSPONSOR is pleased to bring you a
special NewsDash sponsored by Morningstar’s Investment Management group focused
on improving retirement plan participant outcomes. |
|
| Education & Advice |
| The Impact of Expert Guidance on Participant Behaviors |
| Determining how much to save for retirement and
how to invest those savings is a complex problem, and the growth of 401(k) and
similar defined contribution plans has shifted the responsibility to
individuals. But evidence suggests that, as a whole, people aren’t great savers
or investors. Does professional online retirement saving and investment advice
help individuals improve their chances for better retirement outcomes?Read more > |
| A new TIAA-CREF survey shows that 63% of women
who have received professional financial advice say they feel confident about
their personal retirement readiness. The annual Advice Matters Survey reveals
that while women continue to report lower rates of confidence in their
retirement readiness compared with men (56% vs. 63%), receiving financial
advice can help eliminate the gender gap. In addition to feeling more
confident, 81% of women who receive financial advice say they feel informed
about retirement planning and retirement savings, compared with 63% who have
not received advice.Read more > |
| Plan participants increasingly realize they are
responsible for generating their own retirement income, but many still pass
over investment advice offerings, a survey from Schwab Retirement Plan Services
finds. Nine in 10 participants surveyed indicated they are relying on
themselves for the money needed to live in retirement, and most use a 401(k) as
their primary or sole source of retirement savings. Despite this, respondents
say they are much more likely to have someone change the oil in their car (87%)
than have someone help them choose their 401(k) investments (24%).Read more > |
|
| Special Offer from Morningstar |
| Download White Paper: How Can You Help Your Employees Retire?
Choosing the right investment solution can make all
the difference.
Read more > |
