Several Factors Can Diminish Retirement Savings, but Automatic Enrollment Shows Promise for Increasing Participation and Savings

October 2009
GAO Reports;10/28/2009, preceding p1
Government Document
The article focuses on a study by the U.S. Government Accountability Office (GAO) which examines the challenges faced in the participation and savings in 401(k) plans. It indicates that 401(k) plans overtake defined benefit (DB) plans as the principal retirement plan for U.S. workers. GAO recommends a change in law to allow continued contributions after hardship withdrawals.


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