In contradictory fashion, paying off debt was cited as the top reason for taking out a loan from retirement plan savings (46%), yet only 26% of respondents said paying off debt was a good reason to take out a loan.

In light of these non-saving priorities, employers should discuss and focus participants on what it will take to be retirement ready by providing the employees with various tools and resources for them to use and make it happen. Some advantageous features include: company contributions, immediate plan eligibility, immediate vesting and auto enrollment.

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