Workers’ likelihood of a financially viable retirement would, not surprisingly, be significantly improved by setting a higher starting point for 401(k) contributions, new research from the Employee Benefit Research Institute shows.
The Pension Protection Act of 2006 and most private sector employers recommend an automatic enrollment level for 401(k) plans at 3% of pay, but many financial experts say this level is far too low to generate assets for a comfortable retirement.
Register or login for access to this item and much more
All Employee Benefit News content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access