Employers are learning they need to do more to try to educate their workers about retirement.
So says Rebecca Katz, a principal with Vanguard Participant Strategy and Development, noting that the increase in the use of auto features and breakthroughs in web-based technologies have already helped transform retirement education in the workplace and are making it easier for participants to save.
In the past, companies educated their employees sporadically, informing new hires about their defined contribution plan, communicating changes to the plan, such as a new record keeper or new plan options, or helped departing employees with distribution options. But those days are over.
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