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Article: New Charles Schwab Data Reveals Increase in 401k Plan Participation.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Charles Schwab released new data showing the number of workers participating in 401(k) plans increased even as the stock market declined and the economy weakened. In addition, most 401(k) plan participants continued to receive matching contributions from their employer.
According to data taken from retirement plans serviced by Schwab, overall 401(k) plan participation increased four percentage points through the end of 2008, in the middle of the financial crisis, to 77 percent from 73 percent at the end of 2007.
The participation rate jumped even higher, to 84 percent from 77 percent, among plans that offer automatic enrollment programs. However, ...