Recent LIMRA research suggests 70 percent of pre-retirees, ages 55 to 70, do not consider themselves to be prepared for retirement. A newer survey shows most employees want their contributions to their defined contribution plans escalated annually once they turn 45.
Thirty-eight percent were automatically enrolled in their defined contribution plans.
Twenty-one percent had automatic escalation.
Sixteen percent had both automatic enrollment and escalation.
When posed with the idea of an auto escalation beginning at age 45:
