E.g., 12/04/2021
E.g., 12/04/2021
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For most people, retirement is the opportunity to focus on the things that matter and according to a recent study via Voya’s Online Community, how participants visualize retirement vs. retirement planning differs significantly.
To get a better understanding of how consumers think about retirement and what it means to be retirement ready, several generations participated in a study. A group of millennials, generation Xers and baby boomers were invited to a private, unbiased online forum to discuss their financial priorities, as well as their emotions and triggers behind each.
Retirement plan design is a critical factor in helping to improve the retirement readiness of employees. Features like auto enrollment and auto escalation, which automatically enroll new hires into their retirement savings program and annually increases participants’ contributions, can significantly help improve participation and savings rates.

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