As defined contribution plans, particularly 401(k)s, become the primary retirement savings vehicle for more and more American workers, there is no shortage of challenges facing participants. They aren’t saving enough (despite new highs in average 401(k) account balances), they arent making good investment choices, and they arent committed to preparing for their retirement, as evidenced by the borrowing that is occurring to fulfill short-term needs.
The odds certainly can seem stacked against success for DC plans.
