A study finds employees with access to employer-sponsored plans are most likely to indicate retirement readiness, and the IALC suggests plan sponsors increase education.
Tag: retirement plan participation
A package of bills sponsored by four U.S. Senators would also increase access to workplace retirement savings accounts and help workers who already have retirement accounts save more.
Ever since the Census Bureau instituted a new survey in 2014, it has shown retirement plan participation to drop sharply, but the ICI says analysis of tax data shows that participation has held steady since 2008.
"Our survey results reinforce the importance of setting goals and monitoring plans to balance … emotions,” says Rich Ramassini, CFP, director of strategy for PNC Investments.
Professor Shlomo Benartzi, business school professor at the University of California, Los Angeles (UCLA), Anderson School of Management, says technology can be used immediately to improve retirement plan participation and savings rates.