The “Less Is Not More” study set out to determine whether presenting retirement plan information in a more compact and accessible way increases participation and results in better investment decisions.
Additionally, the number of plans with an initial 6% deferral rate for automatic enrollment now surpass those with 3% as the initial rate.
Men are saving an average of 8.9%, and women, 6.4%, PenFed Credit Union found in a survey
Only one-third are participating in their retirement plan
The number of participants taking hardship withdrawals remained less than 1%.