Never Enough
Employee Benefit News (03/02) Vol. 16, No. 3 p.19; Elswick, Jill

Those saving for retirement are always playing a guessing game, but calculators and other tools offered by retirement planning analysts and others can help take some of the guesswork out of the process, especially when it comes to compensating for inflation and lifestyle costs. Aon Consulting's "Replacement Ratio Study" examines Bureau of Labor Statistics about retirement expenses--which often do not diminish in the latter stages of retirement; in fact, travel expenses often increase, as do others. Younger workers seem to be planning well for their retirements, while their parents are lagging behind, leaving many baffled as to how to help them catch up if they plan to retire in 10 years. Employee education, contribution incentives, and enhanced plan contributions seem to be the most effective tools.

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