November 23, 2012
People Want A Paper Copy of their Retirement Plan
While the financial services lobby has pushed Congress to "allow retirement plans to send out all legally required retirement plan documents electronically, unless the participant asks for paper," respondents of a recent survey has indicated that they prefer to receive a paper copy of the retirement plan versus an electronic copy. The survey, conducted by the Social Science Research Solutions (SSRS), determined that 75% of the people that responded to survey had a preference for a paper copy versus an online version. When it came to whether the person would be more likely to save a paper copy versus an electronic copy, 73% said they were more likely to save a paper copy and 70% said they were more likely to read that copy if it were in paper. Of those surveyed, 74% said that receiving a paper copy should be the default delivery option.
See Rebecca Perron, Paper By Choice: People of all Ages Prefer to Receive Retirement Plan Information on Paper, Nov. 15, 2012.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
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