Although employees are generating some strides in preparing for retirement, quite a few are nevertheless not receiving adequate advice in preparing, according to a brand new survey.
42 % of surveyed workers stated they’re confident in their capacity to produce very good decisions on how to handle the income within their 401(k) plans, up from 36% in 2008. And 47 percent mentioned they have a retirement strategy, compared to 39% in 2008.
But while 41% of workers indicated they would like to possess a financial planner to support them invest their 401(k) savings, just 35% of employers mentioned they offer you retirement planning sessions.
That said, Bill Raczko, senior vice president for U.S. company and marketing at MetLife, noted that there appeared to be much more employers bringing suggestion programs to the workplace. But he noted that any lingering reluctance is likely according to getting the employer comfy the matter of fiduciary duty, rather than the way those planners are becoming paid.
“The greatest way to address that [discomfort] would be to have the suggestion provider work closely using the benefit managers,” Mr. Raczko said. That cooperation would give employers reassurance that the guidance that employees receive is relevant and how the message that’s currently being delivered is clear, he additional.
MetLife’s eighth annual study of employee rewards trends surveyed about 1,300 personnel and 1,500 employers inside the fourth quarter of 2009.