older middle aged female worker (Photo: Shutterstock)

After the Great Recession devastated retirement portfolios, it’s not surprising that younger participants are more likely to be on track to reach their retirement goals. Over 60% of participants under age 30 and two-thirds of 30-somethings are on track to replace at least 70% of their earnings by retirement age, according to a survey by John Hancock of participants on its open architecture platform. That preparedness declines steadily with age, the survey found.

The paper, “State of the participant 2020: Readiness within reach,” is based on data from 1.2 million participants. Total assets were nearly $77.5 billion in 1,123 plans.

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