A survey identified confusion plan sponsors can clear up with ongoing education and digital tools.
Reported by
For April Fool’s Day, Lincoln Financial Group is urging plan sponsors to make sure participants aren’t fooled by retirement plan and savings misconceptions including some misunderstandings which plan sponsors might not have thought about addressing in their education efforts.
Lincoln’s survey of people saving for retirement found many are confused about several key areas, including how much to save, rolling over money from retirement accounts and how to prioritize paying off debt versus savings.
For example, 18% of survey respondents said the statement “As a general rule, if you save enough in your workplace retirement plan to meet the employer match, you are probably saving enough to be on track for a comfortable retirement,” is true. Twenty-two percent indicated they don’t know if this is true or false. These percentages rise to 31% and 32%, respectively, f
Don t Be a Fool This April 1: Celebrate 4/01(k) Day Instead
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Don t Be a Fool This April 1: Celebrate 4/01(k) Day Instead
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