Tag: 401k participation
Study suggests differences may be disappearing. A 2020 Bank of America study examined 401(k) participation rates, contribution rates, investment allocations, balances, and leakages for the 4.6 million participants in the company’s record-keeping systems. In addition to breaking the data out by gender, the report also includes results by generation. The authors conclude that participation rates…
The brief’s key findings are: Progress in the 401(k) system stalled in the wake of the economic crisis, according to the 2010 Survey of Consumer Finances data. Despite an increase in auto-enrollment, the percent of employees not participating ticked up. And 401(k) contributions slipped, while leakages through cash outs, loans, and hardship withdrawals increased. As a result,…
