The 2014 Employee Benefit Research Institute Retirement Confidence Survey was recently released. A few positive findings to consider for Plan Sponsors:
- 18% of workers are confident they will have enough money for a comfortable retirement, up from 13% in 2013
- Approximately 50% of workers without a retirement plan were not at all confident about their financial security in retirement, but only 10% of workers that had a retirement plan reported a similar lack of confidence
- 90% of workers participating in a retirement plan saved for retirement, but just 20% of workers without a retirement plan saved for retirement
What programs do you have in place to encourage Plan participation? Has the Plan experienced greater participation in recent years?