One-on-one education is the best way to get individuals to save for retirement, according to new research by the Principal Financial Group.
People who participate in personalized benefits sessions at work tend to take more positive actions like participating and saving more.
Over time, the high deferral rate, combined with the commitment to increase savings among those who attended one-on-one meetings, could mean an additional $242,000 at retirement, based solely on employee deferrals. That could translate into an extra $905 a month in retirement income, according to Principal Financial Group, which is 69 percent higher than participants who didn't have one-on-one education.
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