PLANSPONSOR - August/September 2019 - 41

2019 PLANSPONSOR Participant Survey
T
he 2019 PLANSPONSOR Participant Survey found that a retirement plan's
initial automatic deferral rate plays an important role in what employees
save. Twenty-eight percent of plan participants said they accepted the default
deferral rate. Perhaps because that rate is typically low, 41% of respondents save
5% or less-a more sizable group than the 34% last year and 35% in 2017.
The good news is that the percentage of employees saving more than 10%
has remained steady. It was 21% this year, down slightly from 22% last year and
24% in 2017.
Despite market highs, retirement confidence is slipping, and reported total
retirement savings has remained stagnant. Fifty-five percent of respondents have
less than $100,000 in total retirement savings, up from 48% last year and 49% in
2017. A mere 30% have saved more than $150,000.
Regardless of their savings size, 48% said they are either " confident " or " very
confident " they will be able to achieve a comfortable and secure retirement by their
planned retirement date.
The number of people who want to retire before age 65 has reached a threeyear
high: 36%. This could be surprising, given how many need to save so much
more, yet might coincide with the $250,000-plus in savings group. Twenty-two
percent expect to work until 70 or older.
The survey also revealed that, as someone's balance grows, he is more inclined
to work with an adviser. Only 10% of those with less than $50,000 saved have an
adviser, but this jumps to 36% for those with over $250,000.
Asked what source of advice they prefer in relation to saving for retirement, the
most commonly cited was advisers, by 31%. Respondents also checked off printed
brochures (18%), group meetings (12%), and podcasts (10%), etc. -PS
THEIR
VOICES
Participants provide valuable
insights for plan sponsors
Art by Dalbert B. Vilarino
PLANSPONSOR.com August - September 2019 41
CAPTURING

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PLANSPONSOR - August/September 2019

Table of Contents for the Digital Edition of PLANSPONSOR - August/September 2019

Reality Check
2019 PLANSPONSOR Target-Date Fund Survey
2019 PLANSPONSOR Participant Survey
2019 PLANSPONSOR National Conference
Opportunities Grow
Real Estate Has Been a Haven
Health Savings Strategies
PLANSPONSOR - August/September 2019 - C1
PLANSPONSOR - August/September 2019 - FC1
PLANSPONSOR - August/September 2019 - FC2
PLANSPONSOR - August/September 2019 - C2
PLANSPONSOR - August/September 2019 - 1
PLANSPONSOR - August/September 2019 - 2
PLANSPONSOR - August/September 2019 - 3
PLANSPONSOR - August/September 2019 - 4
PLANSPONSOR - August/September 2019 - 5
PLANSPONSOR - August/September 2019 - 6
PLANSPONSOR - August/September 2019 - 7
PLANSPONSOR - August/September 2019 - 8
PLANSPONSOR - August/September 2019 - 9
PLANSPONSOR - August/September 2019 - 10
PLANSPONSOR - August/September 2019 - 11
PLANSPONSOR - August/September 2019 - 12
PLANSPONSOR - August/September 2019 - 13
PLANSPONSOR - August/September 2019 - 14
PLANSPONSOR - August/September 2019 - 15
PLANSPONSOR - August/September 2019 - 16
PLANSPONSOR - August/September 2019 - 17
PLANSPONSOR - August/September 2019 - 18
PLANSPONSOR - August/September 2019 - 19
PLANSPONSOR - August/September 2019 - 20
PLANSPONSOR - August/September 2019 - 21
PLANSPONSOR - August/September 2019 - 22
PLANSPONSOR - August/September 2019 - 23
PLANSPONSOR - August/September 2019 - Reality Check
PLANSPONSOR - August/September 2019 - 25
PLANSPONSOR - August/September 2019 - 26
PLANSPONSOR - August/September 2019 - 27
PLANSPONSOR - August/September 2019 - 28
PLANSPONSOR - August/September 2019 - 29
PLANSPONSOR - August/September 2019 - 2019 PLANSPONSOR Target-Date Fund Survey
PLANSPONSOR - August/September 2019 - 31
PLANSPONSOR - August/September 2019 - 32
PLANSPONSOR - August/September 2019 - 33
PLANSPONSOR - August/September 2019 - 34
PLANSPONSOR - August/September 2019 - 35
PLANSPONSOR - August/September 2019 - 36
PLANSPONSOR - August/September 2019 - 37
PLANSPONSOR - August/September 2019 - 38
PLANSPONSOR - August/September 2019 - 39
PLANSPONSOR - August/September 2019 - 2019 PLANSPONSOR Participant Survey
PLANSPONSOR - August/September 2019 - 41
PLANSPONSOR - August/September 2019 - 42
PLANSPONSOR - August/September 2019 - 43
PLANSPONSOR - August/September 2019 - 44
PLANSPONSOR - August/September 2019 - 45
PLANSPONSOR - August/September 2019 - 2019 PLANSPONSOR National Conference
PLANSPONSOR - August/September 2019 - 47
PLANSPONSOR - August/September 2019 - 48
PLANSPONSOR - August/September 2019 - 49
PLANSPONSOR - August/September 2019 - 50
PLANSPONSOR - August/September 2019 - 51
PLANSPONSOR - August/September 2019 - 52
PLANSPONSOR - August/September 2019 - 53
PLANSPONSOR - August/September 2019 - 54
PLANSPONSOR - August/September 2019 - 55
PLANSPONSOR - August/September 2019 - Opportunities Grow
PLANSPONSOR - August/September 2019 - 57
PLANSPONSOR - August/September 2019 - Real Estate Has Been a Haven
PLANSPONSOR - August/September 2019 - 59
PLANSPONSOR - August/September 2019 - Health Savings Strategies
PLANSPONSOR - August/September 2019 - 61
PLANSPONSOR - August/September 2019 - 62
PLANSPONSOR - August/September 2019 - 63
PLANSPONSOR - August/September 2019 - 64
PLANSPONSOR - August/September 2019 - C3
PLANSPONSOR - August/September 2019 - C4
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https://www.plansponsordigital.com/plansponsor/march_april_2024
https://www.plansponsordigital.com/plansponsor/january_february_2024
https://www.plansponsordigital.com/plansponsor/november_december_2023
https://www.plansponsordigital.com/plansponsor/september_october_2023
https://www.plansponsordigital.com/plansponsor/july_august_2023
https://www.plansponsordigital.com/plansponsor/may_june_2023
https://www.plansponsordigital.com/plansponsor/march_april_2023
https://www.plansponsordigital.com/plansponsor/december_2022_february_2023
https://www.plansponsordigital.com/plansponsor/october_november_2022
https://www.plansponsordigital.com/plansponsor/august_september_2022
https://www.plansponsordigital.com/plansponsor/june_july_2022
https://www.plansponsordigital.com/plansponsor/excellenceawards_2022
https://www.plansponsordigital.com/plansponsor/april_may_2022
https://www.plansponsordigital.com/plansponsor/february_march_2022
https://www.plansponsordigital.com/plansponsor/december_2021_january_2022
https://www.plansponsordigital.com/plansponsor/october_november_2021
https://www.plansponsordigital.com/plansponsor/august_september_2021
https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
https://www.plansponsordigital.com/plansponsor/december-january_2021
https://www.plansponsordigital.com/plansponsor/october-november_2020
https://www.plansponsordigital.com/plansponsor/august-september_2020
https://www.plansponsordigital.com/plansponsor/june-july_2020
https://www.plansponsordigital.com/plansponsor/april-may_2020
https://www.plansponsordigital.com/plansponsor/february-march_2020
https://www.plansponsordigital.com/plansponsor/december-january_2020
https://www.plansponsordigital.com/plansponsor/october-november_2019
https://www.plansponsordigital.com/plansponsor/august-september_2019
https://www.plansponsordigital.com/plansponsor/june-july_2019
https://www.plansponsordigital.com/plansponsor/april-may_2019
https://www.plansponsordigital.com/plansponsor/february-march_2019
https://www.plansponsordigital.com/plansponsor/december_2018-january_2019
https://www.plansponsordigital.com/plansponsor/october-november_2018
https://www.plansponsordigital.com/plansponsor/august-september_2018
https://www.plansponsordigital.com/plansponsor/june-july_2018
https://www.plansponsordigital.com/plansponsor/april-may_2018
https://www.plansponsordigital.com/plansponsor/february-march_2018
https://www.plansponsordigital.com/plansponsor/december_2017-january_2018
https://www.plansponsordigital.com/plansponsor/november_december_2017
https://www.plansponsordigital.com/plansponsor/october_2017
https://www.plansponsordigital.com/plansponsor/september_2017
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