WANTED: RADICAL REDESIGN OF NATION'S RETIREMENT PLANS

New Survey Reveals Young Workers Find "Auto-Pilot" Retirement Plan Features Highly Desirable

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THIS IS A MULTIVU SPECIAL REPORT BROUGHT TO YOU BY PRUDENTIAL RETIREMENT. THE RESULTS OF PRUDENTIAL'S FIFTH ANNUAL WORKPLACE REPORT ON RETIREMENT PLANNING FOUND THAT YOUNGER WORKERS WOULD WELCOME A RETIREMENT PROGRAM WITH AUTOMATIC PLAN FEATURES. AUTO-PILOT FEATURES REPRESENT A RADICAL DEPARTURE FROM THE 401K DESIGN THAT APPEALED TO BABY BOOMERS.

DR. LINDA KLEIN, ASSOCIATE DEAN, UNIVERSITY OF CONNECTICUT SCHOOL OF BUSINESS:

"Today's youngest workers are keenly aware that the Boomers' 'do-it-yourself' approach to saving for retirement isn't working. It is not delivering the retirement security that they need and they want."

THE SURVEY REVEALED THAT YOUNG WORKERS WOULD EMBRACE "AUTO ENROLLMENT" AND WOULD BE EQUALLY ENTHUSIASTIC ABOUT AN AUTOMATIC APPROACH TO OTHER KEY COMPONENTS OF PLAN MANAGEMENT LIKE MANDATED MINIMUM-CONTRIBUTION RATES IN THEIR WORKPLACE-PROVIDED DEFINED CONTRIBUTION PLAN.

IN THE MOST COMMON TYPES OF THESE PLANS, ALL DECISIONS ABOUT PARTICIPATION, SAVINGS RATES, AND INVESTMENT CHOICES ARE CURRENTLY THE RESPONSIBILITY OF INDIVIDUAL PLAN PARTICIPANTS. 

  FOR MORE INFORMATION, VISIT WWW.PRUDENTIAL.COM.
  I'M LARRY CARDARELLI
  AUDIO PROVIDED BY: Prudential


http://www.prnewswire.com/broadcast/25685/consumer.htmlDATASOURCE: Prudential



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