Myths about certain groups of workers—namely, GenXers andmillennials—are impeding the understanding of employers about howthose workers engage with their defined contribution plans, makingthe plans less effective.

So says new research from State Street Global Advisors, whichfound “surprising similarities” between the two age groups—ademographic that SSGA has christened “Generation DC” because it isthe first cohort to rely predominantly on a defined contributionplan as their primary source of retirement funding.

In a survey it conducted on plan employees ages 22–50, thecompany said that, regardless of respondents’ ages, more than 80percent of employees understood that creating a successfulretirement depends on making it a priority and starting early.

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