(Image courtesy of stockimages/FreeDigitalPhotos.net)

Participants in 401(k) plans are a feisty lot. Not only do 90 percent of them say that they’ll be relying on themselves to provide the money they need in retirement, but 87 percent of them say that, after health insurance, having a 401(k) plan is the top make-or-break factor when deciding whether to accept a new job.

Yet once they get that coveted 401(k) plan, they aren’t at all confident about their abilities to make the right choices, according to a new survey from Schwab Retirement Plan Services. But that doesn’t mean they’ll ask for help. They’re more likely to get someone to change the oil in their cars (87 percent) than to ask for help in making investment choices (24 percent), and most spend more time researching new cars (55 percent) and vacations (39 percent) than the investment options available in their plans.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com 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?


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.