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Employees Place High Value on Retirement Planning Tools, Financial Wellness
Monday, November 26, 2018 6:45 AM

CUNA Mutual Group

When ranking their interest in retirement education components, employee plan participants surveyed by CUNA Mutual Retirement Solutions indicated they were most interested in financial wellness topics and a desire to better understand retirement planning tools and resources available to them.

The 2018 Retirement Education Preferences Survey was conducted to provide plan sponsors insight into what retirement topics plan participants are most interested in, what educational resources they want to help guide them to financial security in their retired years, and how well they understand their retirement plans.

“The survey is all about supporting retirement plan participants in their personal journeys toward long-term financial security,” said Jennifer Norr, CUNA Mutual Group vice president of Consumer Experience Marketing. “The more we understand what matters to our participants, the better we can help them remove savings obstacles and build a strong foundation for their lives today and throughout retirement.”

Plan participants were asked to rank their interest in various financial and retirement education planning areas including; understanding tools and resources; smart retirement savings practices; basic investment principles; budgeting and managing debt; advanced investment principles; and preparing to transition to retirement. Sponsors representing 321 retirement plans administered on the CUNA Mutual Retirement Solutions’ BenefitsForYou website shared the survey with their employees.

Overall, the 9,200 participants who responded were most interested in understanding the tools and resources available to help them. This was ranked as the top area of interest 25 percent of the time. It might indicate employees are interested in maximizing their returns and learning how their plan can help them prepare for retirement, but they are not certain they have all the information they need.

A secondary theme emerged as participants expressed a strong interest in basic financial wellness topics. This may indicate participants are facing challenges that impact their ability to increase their overall and retirement savings.

For additional insights, visit cunamutual.com. The survey eBook and a participant infographic are available to be downloaded.