Retirement Market Reports

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Plan Participant Social Media and Mobile Technology Usage 2013

Plan Participant Social Media and Mobile Technology Usage focuses on the preferred social media platforms of 401(k) participants, and how they use social media in their personal and financial lives. Also, the study looks at how age, gender and account balance affects their usage frequency of mobile technology such as smartphones and tablets.

 

Key findings include:

 

• Seventy-one percent of plan participants use a smartphone and 57 percent use tablets.
• While Facebook is the most commonly used social media platform, almost half of participants use LinkedIn and YouTube and almost one-fourth of all participants are on Twitter.
• Many younger defined contribution plan participants are much more likely to turn to social media for information rather than use newspapers or television. Thirty-three percent of participants ages 35 and younger use social media for information first, while only 6 percent of participants 50 years of age and older do so.