Some participants have no idea they’re not deferring

According to a survey by Principal, 59% of employees who are not contributing to their 401k or other workplace plan believe they are. Another 77% think they began saving after becoming eligible to contribute.

These are incredible results and show a serious lack of retirement planning education and communications among plan sponsors and their employees. It just shows that we have so much more to do as an industry in educating participants.

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