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Workers under the age of 35, the generation most likely to depend almost solely on defined-contribution plans rather than the typical Social Security-savings-pension three-legged model, need to be diligent if they expect to save enough for retirement, a report released in October by Northern Trust found.

“Sponsors have to engage younger workers to save, save a lot, and to continue saving,” Lee Freitag, product manager of defined contribution solutions for Northern Trust, told AdvisorOne on Monday. To that end, sponsors need to limit loans to prevent leakage. Educating workers to avoid taking loans from their retirement plans is a “smart thing to do.”

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