Employees definitely want their employers’ recommendations when it comes to saving for retirement, according to a new study from financial services firm Northern Trust.

The survey accessed 1,000 participants in workplace 401(k) programs, or other defined contribution retirement plans.  The results found that almost 90% of respondents strongly favored their employers providing tools to determine if they are saving the correct amount for a secure retirement.  Only a little less felt that employers should encourage their employees to contribute to their retirement plan.

Not only do employees want their employers’ advice, but most of the respondents said they would actually consider using the advice when it came to determining what their contribution should be.  This would turn this advice into something actionable. 

The study also interviewed plan sponsors who had reservations about taking a more active role in employee schemes.  Targeted recommendations, especially at salary levels, create an abstract form of liability that many employers aren’t willing to take on.

As time goes on, most Americans have to save more and more to achieve a financially secure retirement.  HR experts explain that certain actions can be taken to achieve financial security in retirement.  Employers can easily increase their role in encouraging general retirement savings, like recommendations by age.  It would also help if employers provided employees with tangible numbers, like savings projections.   Of course, these numbers would be strictly estimations, but it could help certain employees understand how a little bit of money from each paycheck could add up.