A hidden value of defined contribution retirement plans might be that they get participants thinking about their long-term finances.
In fact, about 90 percent of households saving in employer-sponsored defined contribution plans said they had such thoughts, according to a survey of adults across the country by the Investment Company Institute. More than 40 percent of households said they wouldn't be saving at all if it not for the plans.
The survey comes amid growing concern about how retirement plan sponsors can reach employees and educate them about the importance of planning for their post-work years.
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.