HR Answers: The 401(k) knowledge deficit
Survey shows employees need help understanding how their retirement plan works.
A 2018 survey of 401(k) plan participants suggests that if you want to help your employees save enough to retire on time, help them understand how to more effectively use the retirement saving tools and resources you offer.
The survey, by CUNA Mutual Retirement Services and published in our Retirement Education Preferences: 2018 Participant Survey Results eBook, measured 9,200 responses from participants across 321 plan sponsors.
Respondents were asked to rank their interest in seven finance and retirement planning topics (the percentage represents how many respondents ranked the topic as their highest interest):
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