The more education a person has is strongly correlated with how confident they are about their retirement and their ability to save and plan for it, according to the 11th Annual Transamerica Retirement Survey, released on Thursday.

The survey, which was conducted with 3,598 full and part-time American workers between Dec. 3,2009 and January 18, 2010, found that workers with lower levels of education are at a disadvantage when it comes to saving and planning for retirement. Only 60% of those with a high school diploma have been offered a 401(k) or other retirement plan by their employer, compared to 71% of workers with some college education, 78% of workers with a college degree and 83% with post graduate education.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access