KEY TAKEAWAY

When it comes to retirement saving, Boomers, Gen Xers and Millennials express different levels of interest, understanding and need.

Learning the distinctions in what they want can help the DC industry target everything from communication to plan design — and get people saving earlier in their careers and investing more effectively for their life stage.

MILLENNIALS SEE THEIR RETIREMENT FUTURE AS BRIGHT –
BUT AREN’T TAKING ACTION TO MAKE IT HAPPEN

MILLENNIALS SEE THEIR RETIREMENT FUTURE AS BRIGHT

While Millennials are most confident that they are on track for retirement, they haven't taken as many actions to help get there. They would value help from their employers with retirement planning more than other generations, meaning plan sponsors have an opportunity to influence younger workers’ savings behavior while time is still on their side.

Sponsors could also help Gen Xers in areas where they feel less informed, including whether they are on track and how to minimize fees.

sponsorqoute

[Millennials] are under a lot of financial pressure. We try to send messages about the match to make sure people understand they are missing out on free money if they don’t opt in at all. … Having better tailored communication to subsets of members would allow them to see, 'I can still do a lot to impact my retirement.'

Source for all data: BlackRock DC Pulse Survey, September 2015

The conclusions are intended to provide an indication of the current attitudes of a sample of U.S. plan sponsors and participants about retirement saving and investing and should not be relied on for any other purpose.

Investing involves risk, including possible loss of principal. Asset allocation and diversification may not protect against market risk, loss of principal or volatility of returns.

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FOR INSTITUTIONAL OR PROFESSIONAL USE ONLY.

Prepared by BlackRock Investments, LLC,member FINRA.

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