Despite the economic downturn and a widely held belief that the country is heading into another recession, benefit plan participants are committed to saving money for retirement, according to the Mercer Workplace Survey.
Typically, there is a direct correlation between economic outlook and retirement behavior, the report said, but this year, despite deep economic concerns, participants seem to be renewing their focus on retirement savings and gaining confidence in their ability to do so.
"In 2010, most participants saw the economy improving but not their own personal situation – a highly unusual divergence," said Suzanne Nolan, partner and director of marketing and communications for Mercer's U.S. Outsourcing business. "This year's results reflect a stunning reversal in terms of a highly negative view of the economy but a renewed commitment to and accountability for their own retirement planning."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
