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Higher Education Plan Sponsors Seeing More Demand for Participant Investment Help
Plan sponsors can respond by simplifying fund menus and providing access to professional help; many are already using managed accounts.
Reported by
A study on higher education retirement plans from Voya found 43% of plan sponsors say motivating employees to save adequately and invest wisely are top challenges to helping their employees prepare for retirement.
Interestingly, a separate study from Transamerica found more than half (59%) of higher education institutions view motivating faculty and staff to save adequately for retirement as their greatest challenge in managing their retirement plan. Forty-seven percent said it was helping participants invest wisely.