Believe it or not, a survey released Thursday by AARP found that the majority of respondents prefer to read retirement plan information on paper rather than with electronic media.
What’s more, AARP didn’t come to this conclusion by ignoring iPad-owning and e-reading millenials. The organization surveyed over 1,000 adults over 25 who are current or former participants in a 401(k) or pension plan.
While 70% of respondents go online at least once a day, three-quarters of respondents said they would choose paper disclosures if they could only choose one method.
The survey found 27% of people receive disclosure documents both on paper and electronically.
Among participants who have an email address, 70% said they were more likely to read paper versions of plan information. Seventy-three percent said they were more likely to save paper versions than electronic versions.
What isn’t surprising about the survey results is that when they are broken out into age groups, younger respondents were more likely to prefer electronic delivery. The survey found the 25-49-year-old age group was also more likely to receive both paper and electronic disclosures.
When specifically asked which delivery method should be the default–paper or electronic–74% of all age groups said paper disclosures should be the default, but individuals should be able to request email delivery if they prefer. Just 20%–and only 27% of younger respondents–said electronic delivery should be the default.