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The questions in this section are based on respondents' answers to the question:
What types of information and education could help retiring participants make more optimal decisions regarding the use (i.e., saving and spending) of pension and retirement plan savings during retirement? Responses received for this question during Phase 1 include the items below. The items are listed in alphabetical order. |
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6.
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Consider the decisions that retiring participants need to make regarding their use of pension and retirement plan savings during retirement. How effective, if at all, would the following types of information and education be in helping retiring participants make more optimal decisions? |
| Extremely effective | Very effective | Moderately effective | Somewhat effective | Slightly or not effective | No answer | ||
|---|---|---|---|---|---|---|---|
| 6a.
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Annuities-what are they? how do they work?, etc. | ||||||
| 6b.
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Available annuity products that employers could offer | ||||||
| 6c.
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De-emphasize information and education on investing/investments vis-à-vis retirement income needs | ||||||
| 6d.
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Helping participants assess needs in retirement (i.e., health, income, etc.,) | ||||||
| 6e.
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Helping participants to understand longevity risk (i.e., risk of outliving assets) | ||||||
| 6f.
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Helping participants/retirees understand financial risks that they will face in retirement (e.g., inflation, lower standard of living, investment) | ||||||
| Extremely effective | Very effective | Moderately effective | Somewhat effective | Slightly or not effective | No answer | ||
|---|---|---|---|---|---|---|---|
| 6g.
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How guaranteed lifetime income from a participant's retirement plan could enhance government provided retirement income | ||||||
| 6h.
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How to compare annuity and lump sum amounts (i.e., how to compare equivalent amounts) | ||||||
| 6i.
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How to project potential retirement income from pensions/retirement savings | ||||||
| 6j.
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How to take inventory of retirement income sources | ||||||
| 6k.
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How various types of retirement saving plans are taxed | ||||||
| 6l.
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Improving financial literacy | ||||||
| Extremely effective | Very effective | Moderately effective | Somewhat effective | Slightly or not effective | No answer | ||
|---|---|---|---|---|---|---|---|
| 6m.
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Payout options plans make available to retiring participants (e.g., description and/or value of retirement benefits under available options) | ||||||
| 6n.
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Seeking financial "advice," and other resources for retirement income planning | ||||||
| 6o.
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Strategies/advice for managing retirement income during retirement (i.e., decumulation) | ||||||
| 6p.
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The pricing of annuity products (i.e., administrative fees) | ||||||
| 6q.
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The tradeoffs of extending one's working life | ||||||
| 6r.
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The value of expected DB and/or DC plan benefits (i.e., what a participant's accumulation is likely to provide) | ||||||
| 6s.
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Other information and education (Please describe below.) | ||||||
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If you checked "other" (above), please describe. (The textbox will expand to accommodate your response.) |
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