Participants Are Fooled by Retirement Plan and Savings Misconceptions
A survey identified confusion plan sponsors can clear up with ongoing education and digital tools. Reported by For April Fool’s Day, Lincoln Financial Group is urging plan sponsors to make sure participants aren’t fooled by retirement plan and savings misconceptions—including some misunderstandings which plan sponsors might not have thought about addressing in their education efforts. Lincoln’s survey of people saving for retirement found many are confused about several key areas, including how much to save, rolling over money from retirement accounts and how to prioritize paying off ...