A recent article in PlanSponsor, “Employees Need
Education About Contribution Limits” states that:
‘Retirement plan participants need more education about
contribution deferral limits, according to a recent survey. Preliminary results
of the 2013 Mercer Workplace Survey show the average participant believes his
tax deferral limit for 2013 is around $8,500 rather than the actual limit of
$17,500. The survey also found for those in the 50-and-older age range and
nearing retirement, the gap between supposed and accurate knowledge about
limits is even more substantial.”
To read more, click here.
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