Administration July 8, 2003

Participants Eager For Employer-Sponsored Advice

August 31, 2001 (PLANSPONSOR.com) - The vast majority of participants would take advantage of retirement planning advice - if offered by their employer, according to a new survey sponsored by ING Aetna Financial Services.
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More than 75% of the 546 full-time employees surveyed said they would take advantage of retirement planning advice if it was provided by their employer, while more than half (54%) said they would also seek out the counsel of an additional source, such as a professional planner.

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The survey also found that 42% of respondents do not seriously consider reallocating their 401(k) investments after they are established, a finding that actually seems conservative in view of most reports on rebalancing.

Other findings included:

  • 84% – consider it very or somewhat important that a company offer a 401(k) or similar retirement savings plan when making the decision to join or stay with a company
  • 76% – contribute the maximum amount at which their company matches or more

MarketFacts conducted the survey of 546 full-time employees in August 2001.

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