Many employees say more and easier to understand information about their employer-sponsored retirement plans would encourage them to save more, highlighting the need for benefit advisers to work with employers to increase retirement plan education and communications and to tailor them to an employers specific employee population.
Twenty percent of employees surveyed for Aegeons 2014 retirement readiness survey say that more frequent access to information about their retirement savings would encourage them to save more. Likewise, communications tailored to a particular employee group has had better results engaging employee participation in retirement plans than the one size fits all philosophy, according to the U.S. Department of Labors ERISA Advisory Council 2013 report on plan communications.
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