Almost 80% of employers anticipate that there will be an increased demand for access to savings and investment advice about their 401(k) plans, according to a new survey from Bank of America Merrill Lynch.
Since the economic recession, nearly half of employers have seen an increase in interest among prospective employees about their retirement plans, the survey finds. As a result, plan sponsors feel increased responsibility for the financial well being of employees and are adapting their policies to meet the needs of today’s multigenerational workforce.
