TITLE

Putting 401(k)s on Automatic

PUB. DATE
June 2005
SOURCE
Journal of Financial Planning;Jun2005, Vol. 18 Issue 6, p20
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article provides information on the findings of the 15th annual Retirement Confidence Survey of the Employee Benefit Research Institute regarding factors that would encourage workers currently not participating in their employer's retirement plan to be somewhat or much more likely to participate. Responses included: 72 percent said an employer-matching contribution of up to 5 percent of their salary; 66 percent said automatic enrollment in a 401 upon hiring would do the trick for them; 66 percent cited lifestyle funds whose investment allocation would automatically become more conservative as their retirement date approaches; 55 percent wanted automatic raises in their contributions whenever they receive a pay increase.
ACCESSION #
17543856

 

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