The relatively few employees who use the advisory services offered to them through their 401(k) plans are far more at ease about their retirement than those who do not, according to the 2012 Mercer Workplace Survey.
The survey finds that the 18% of participants who use their plans’ online or in-person investment advice have a decidedly better retirement outlook. For example, almost half of those who engage with in-plan advice (49%) believe that they will have enough money to pay for health care, and 40% expect to live as well or better than they did when they were working. That compares with 35% and 29%, respectively, for all respondents.
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