Less than half of 401(k) participants surveyed were completely satisfied with the education program they had received, according to the Boston Research Group. Some 60% of the 2,100 participants who responded to the group’s survey indicated they want to be offered "tools to make retirement planning easier”; and 49% ranked "being offered individual planning assistance” as "extremely important” in determining their overall satisfaction with their record keepers.
However, fewer than one in 10 participants surveyed would be willing to pay $100 for a personalized retirement plan by a financial planner, the survey stated. Only 15% would pay $25 for advice and guidance over the Internet, although 39% found Internet-based financial planning tools "very useful.”