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Retirement Planning > Saving for Retirement

Employers Top Advisors

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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.