How do employees really feel about their 401(k) plans?
August 31, 2015 11:59 AM
With the recent stock market swings, many employees are on edge about the future of their retirement nest eggs. A recent study from Charles Schwab provides some critical insight into the attitudes and behaviors of 401(k) participants.
[Image: Fotolia]
[Image: Fotolia]
Job attraction
A whopping 90% of employees say they'd think twice about taking a job if it didn't come with a 401(k) plan.
[Image: Fotolia]
[Image: Fotolia]
Freshman 15
A good majority of employees (73%) would rather have their 401(k) balance grow by 15% this year than lose 15 lbs.
[Image: Fotolia]
[Image: Fotolia]
Making choices
More than two-thirds (68%) consider making good 401(k) investment choices a key priority, even more so than staying in shape (59%) or eating healthy foods (56%).
[Image: Fotolia]
[Image: Fotolia]
Employer contributions
Almost all (91%) participants surveyed receive a company match and 87% of those who do contribute save enough to get the full company match.
[Image: Fotolia]
[Image: Fotolia]
Political players
As the 2016 presidential candidates duke it out, 69% of employees want the candidates to also address retirement savings during the debates this election cycle.
[Image: Fotolia]
[Image: Fotolia]
Priorities
While important, retirement isn't the only thing employees think about: More than a third (35%) say they aren't willing to sacrifice quality of life expenditures like dinners out and vacations in order to save for retirement.
[Image: Fotolia]
[Image: Fotolia]
