The Hartford’s Benefit Landscape Study indicates that few Americans actually understand their retirement benefits.
In fact, 65 percent of adults surveyed say they completely or mostly understand their retirement plan, compared to 82 percent who completely or mostly understand their health and car insurance policies.
Meanwhile those respondents between the ages of 30 and 44 represented the greatest number of people with a retirement plan,as 67 percent of those surveyed in that age group have one.
This is compared to 66 percent of those between the ages of 55 and 65 who currently have a retirement plan.
Why do you think Americans find the benefits of a retirement plan more confusing than insurance policies? Please leave your thoughts below.