The results of the survey found that plan participants are aware of the plan and their need to save, and many are eager for their employers to provide additional information about how to do that.
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The 2014 PLANSPONSOR Participant Survey was conducted via a
blind online questionnaire from March 5 through 8, using a broad sample of U.S.
workers from ResearchNow, an online panel provider. A total of 1,339 full-time
employed adults ages 23 and older responded to the 32-question survey, which
covered a range of retirement saving habits and perceptions. Among respondents,
718 (62%) currently contribute to a 401(k) plan, while 147 (12%) have access to
a 401(k) but do not participate; 164 respondents (14%) are employed by
organizations that offer non-401(k) defined contribution (DC) plans, and 138
(12%) have no access to any form of defined contribution plan through their
employer. The final data reflect a balance of demographic attributes, including
gender, race/ethnicity, household income and formal education. The sample was
not weighted to reflect national averages. For more information, contact Brian
O’Keefe at firstname.lastname@example.org.
The PLANSPONSOR Participant Survey examines the attitudes and behaviors of American workers participating—or not—in an employer-sponsored retirement plan. It gathers data about savings rates, employer expectations and confidence levels, among other measures.