Aon Hewitt has been looking at its client base for slightly over a decade to gauge the performance of the retirement plans it services. The focus is primarily on the large plan market, with an average of almost 25,000 eligible employees per plan. According to 2013 Universe Benchmarks: Measuring Employee Savings and Investing Behavior in Defined Contribution Plans (Highlights), while participants for the most part are not actively involved with their retirement plans, automated features are meeting with substantial success in improving the outlook for a secure retirement.
Key findings by Aon Hewitt include:
Key recommendations include:
"One of the dominant themes of Aon Hewitt’s 2013 Hot Topics in Retirement report is that plan sponsors are embracing a more holistic perspective on their retirement programs. They are focusing on financial wellness and measuring projected retirement income adequacy, instead of merely concentrating on current participation and savings levels."
Recognizing that employees do in fact want to save for retirement but are finding it difficult to do so should go a long way toward resolving that challenge.
Blog Author - Ken Felsher
With over 25 years of writing, editing, and research experience. I enjoy sharing with my readers my love of working with content on a variety of subjects.
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