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Products April 17, 2008
Mercer Launches Retirement Savings Education Program
Mercer has recently introduced an online retirement savings educational program to employees whose 401(k) plans it administers and the general public.
Reported by Rebecca Moore
According to the company, “Count on your retirement” incorporates retirement calculators and enables users to customize their experience by selecting a savings effort level: 1 – Effortless, 2 – Easy, or 3 – Still really simple. Users are then presented with a variety of savings tips, retirement planning calculators, and information about automatic 401(k) plan features – such as contribution rate increase and rebalancing tools – that may be available to them.
Mercer said the program will help it address key findings from its recent 2007 Mercer Workplace Survey. For the first time since 2004, respondents to the Mercer survey said they are more worried about keeping up with monthly expenses than saving for retirement.
Mercer found the need to focus on near-term finances is affecting the retirement confidence of respondents. When asked what they would do differently in the past year of their retirement savings and investing life, almost half (48%) said they wished they had saved more pay in their 401(k).
The program is located at www.CountonYourRetirement.com.