In the new survey by CIGNA Retirement & Investment Services, only 31 percent of employees give their employer an "A" grade when  it comes to assistance in helping workers plan for a secure retirement, while 38 percent of employees give their employer a grade of "C" or lower.  A majority, 55 percent, think their employers generally could do a better job of responding to questions about retirement planning.

Additionally, sixty-seven percent of employees admit they have room for improvement in planning for their retirement, giving themselves a "B" grade or lower, and 80 percent said they intend to be more involved in managing the investments in their workplace-provided retirement programs.  

Respondents say they want their employers to make available a wider range of financial-planning solutions, such as personalized financial planning advice, more information about managing stock purchase plans or stock options, and a range of banking products through the workplace.    

Younger employees, especially, could use financial guidance. While nearly half of older Baby Boomers say they have access to specific investment information tailored to their needs, only 39 percent of "Generation X" workers and 34 percent of "Generation Y" workers say their employers provide them with such information. 

CIGNA offers five retirement savings tips employees and five tips for employers on how to best serve employees' needs.

Tips for Employees

1. Have more than one basket for your nest egg: diversify your assets in a manner that makes sense to you, based on your stage in life, personal circumstances and financial goals.  And include in your portfolio a range of investments representing a variety of asset classes and options - not just one - to help secure that nest egg when the market isn't cooperating.

2. Save, save and save a little more. Do what you can to increase your contribution to your retirement plan.  Take advantage of the savings reforms enacted with the 2002 Economic Growth & Tax Reconciliation Act, which increases contribution limits and enables older employees to contribute more to their retirement plans.

3. Use the tools. Financial-planning technology has come a long way. Savers now have access to technological resources that can help them make informed decisions about their portfolios. Of course, you can always contact your plan provider call center if you have questions about the tools or how to use them.

4. Read and learn. Many don't bother to read it, but the typical retirement savings statement offers valuable information about how to manage the allocation of assets, and not just the "bottom line" on performance.  Take the time to study the statement, and learn more about smart investing by utilizing the online education resources available from the more capable retirement-plan providers.

5. Don't be shy. If you don't have access to the savings information you need, don't be afraid to ask your employer to explore the possibilities with your company's plan provider. 

Tips For Employers

1. Make it personal. Employers should tailor investment education communication and guidance to the specific life-stage and financial circumstances of individual employees.  They should also make information available through a variety of media, including face-to-face meetings, through call centers, through written material and over the Internet.  A "one-size-fits-all" approach simply doesn't meet the expectations and needs of today's employees.

2. Think beyond investments. As employees increasingly look to the workplace for financial and retirement planning, employers need to offer more than just investment options -- even if those options are supported by the very best education, communication and guidance programs.  "Employers of choice" will distinguish themselves by providing real workplace financial solutions that include college funding plans, banking products and other financial vehicles.

3. Advice is nice. Although current regulations prohibit retirement plan providers from offering specific investment advice to individual employees, employers can work with their providers to establish relationships with third-party, SEC-registered investment advisors, who can deliver the one-on-one investment counseling employees are looking for.

4.  Motivate behavior. To help ensure the retirement security of employees, employers should institute educational programs that help employees learn about investing and encourage them to either participate in employer-sponsored retirement plans (if they are not currently enrolled), or to increase their deferrals.

5. Measure results. Employers should work with their providers to track progress, both in increasing participation and deferrals and in ensuring that plan options, education programs and financial-planning tools meet employee needs.