This is the final post in our three-day mini-series on 401ks. Today's information comes from the Associated Press and lists information from a study of 460 companies by Hewitt Associates Inc. concerning 401ks. Their findings:
- 19 percent of the companies automatically enroll new workers in their retirement plans, up from 14 percent in 2003.
- 37 percent offer outside investment advice.
- 26 percent provide automatic rebalancing, up from 11 percent two years earlier.
- Nearly 20 percent are enabling workers to automatically increase contributions over time, up from 3 percent in 2003.
It's good to see companies are starting to help employees make the most of their 401ks. However, don't simply rely on your company to take care of this investment for you. Learn all the ins and outs of your specific 401k offering, then make a plan to make the most of this investment. The responsibility for your investment is yours.
Comments