A high percentage of individuals do not contribute to an IRA.
According to a new study by TIAA-CREF, 80 percent of people overlook IRAs as a retirement savings vehicle, up 4 percent from last year. Close to half of all people surveyed also lack basic understanding of what IRAs are and how they are used.
More than 1,000 adults were surveyed nationwide from Feb. 21-24. They were asked about their attitudes, preferences and behaviors regarding Individual Retirement Accounts. The phone survey was conducted by KRC Research, a third-party research firm, over a landline and cell phone sample.
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