Echo Boomers Care About Retirement: Survey

Young workers really do think about saving for retirement.[@@]

Researchers at the Transamerica Center for Retirement Studies, Los Angeles, have published data supporting that conclusion in a report on a survey of “echo boomers,” or U.S. adults born between 1979 and 1986.

Although young workers are interested in retirement savings, employers may have to offer more retirement planning education and advice to get those young workers to participate in employer-sponsored retirement plans, according to the Transamerica researchers who wrote the report.

Echo boomers seem to be as likely as older workers to have talked to supervisors or human resources departments about retirement benefits, and 93% of the echo boomers surveyed said they think an employee-funded retirement plan is an important benefit, the researchers write.

Moreover, 88% of the echo boomers acknowledge that they should know more about retirement investing, and 71% want more information and advice from their company about how to save for their retirement.