Men are more confident in their retirement planning than women.
A new survey of retirement plan participants by American United Life Insurance Co. found that 45 percent of male respondents were either "confident" or "very confident" when asked if they thought they would be able to retirement and maintain their current lifestyle. Only 33 percent of women gave the same answer.
Forty-four percent of women and 36 percent of men said they were not sure.
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"These findings help underscore how important it is for plan sponsors to understand where the gaps are in perception, education and confidence in order to target different groups of employees with important messages that help them prepare for retirement," said Marsha Whitehead, vice president of marketing communications for the retirement services division.
The OneAmerica companies recently surveyed 6,360 visitors to its participant website to determine how they learned about finances and prepared for retirement, what resources are most effective and how confident they are with their retirement preparations.
Whitehead said the companies of OneAmerica are sharing survey results like these with plan sponsors along with guidance as part of a program it recently developed to help them better inform and educate different subsets of their employees. Whitehead says special attention should be given to finding opportunities to promote retirement and financial education to women as they are historically less knowledgeable about such topics.
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