U.S. workers say they are more likely to turn to their employers for retirement savings guidance than they are to turn to professional financial advisors.
About 19% of U.S. workers said they look to employers for advice about retirement benefits and other employee benefits, while 15% said they look to financial advisors, according to retirement plans executives at Hartford Financial Services Group Inc., Hartford.
Another 13% said they would ask spouses, and 9% said they would look on the Internet.
Hartford has released those findings in a summary of results from an April online survey of 1,019 U.S. adults ages 18 to 64.
About 34% of the participants admitted that they have little or no understanding of their retirement plans, and 74% said they have less than a complete understanding.
When participants were asked about ways to improve their understanding of employer benefits, 36% asked for simpler printed materials, and 22% asked for 1-on-1 support.