401k Assets Reach $1.8 Trillion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

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Some Myths About 401k’s
Myth 2: 401(k) participants don’t take an interest in their retirement plans.

• In reality, Fidelity found workplace participants are increasingly more engaged in their plans. In 2010, approximately three out of four active participants contacted Fidelity via the phone or over the Web. And more than 1.1 million workplace participants took advantage of Fidelity’s online guidance tools.

• Of those who used the savings tools, nearly half (47%) increased contributions to their 401(k)s by an average of three percentage points (from 4% to 7%).

• When employees sought Fidelity’s comprehensive guidance with their investment strategy, one in five made adjustments to their portfolio from suggestions based on their age and target retirement date.
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Portability is the most desired retirement plan feature
In response to the question: How desirable are the following features that retirement plans might have? 58% of respondents said being able to carry over benefits if you switch to another job/employer was extremely desirable. 54% said having an employer match your contributions to the plan was extremely desirable. (SOURCE: Nat'l Institute on Retirement Security)

Some Myths About 401k’s