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Employees looking to boost retirement savings

In a new survey, LIMRA, Windsor, Conn., finds most employees want their contributions to their defined contribution plans escalated annually once they hit age 45.

By Amanda McGrory-Dixon | Updated on September 28, 2010

In a new survey, LIMRA, Windsor, Conn., finds most employees want their retirement contributions automatically escalated annually once they hit age 45.

“The message to employers is don’t be shy about implementing an automatic escalation option in your DC plans,” says Marie Rice, corporate vice president and director of LIMRA’s retirement research. “Employees understand they need to boost their retirement savings, and automatic escalation is a simple way to increase the amount they are saving annually.”

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