Experts with Bank of America Merrill Lynch were cheered by their latest 401(k) Wellness Scorecard, the results of which were made live this morning. As the economy continues its shaky recovery and the stock market progressed in the first quarter of 2013 toward its new record highs, Bank of America Merrill Lynch officials say retirement plans are gaining ground.
More than 26,000 employees were automatically enrolled in Bank of America Merrill Lynch 401(k) plans in the first three months of 2013, the scorecard reports, and only 7% opted out; among plans without auto enrollment, less than one-fifth keep their opt out rates below 10%. Additionally, the company reports 207 plans with auto-increase features, up 9.5% from the end of last year. Participants in those plans also rose, by 9.3%, from 115,703 to 126,537.
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