More than half of 401(k) plan account holders believe health care benefits are easier to understand than 401(k) investment options.
A study of more than 1,000 401(k) plan participants by Charles Schwab found that 57 percent of participants wish there were an easier way to figure out how to choose the right 401(k) investments. Forty-six percent don't feel they know what their best investment options are, and one-third feel a lot of stress over correctly allocating their retirement funds.
That said, nearly 90 percent of respondents said they are counting on themselves to save for retirement. Only 5 percent said they planned to rely on the government for financial help after they stop working full-time.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
