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One-third of Americans unfamiliar with retirement plans

Another 36 percent believe they have too many or too few choices, according to a TIAA-CREF survey.

By Lisa Barron | Updated on February 26, 2014

One-third (33 percent) of Americans who take part in an employer-sponsored retirement plan say they are not familiar with its investment options, and another 36 percent believe they have too many or too few choices, according to a TIAA-CREF survey.

There is a significant difference between males and females in terms of familiarity. Thirty-seven percent of women said they are not familiar with their investment choices compared to 29 percent of men. And there are differences among generations, with 43 percent of Gen Y respondents saying they are not familiar with their plans compared to just 24 percent of baby boomers.

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