401k Assets Grow to $553 Billion

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

Filed under 401k Timeline · Tagged with

Comments are closed.

Some Myths About 401k’s
Myth 4: Most people take loans or cash out of their 401k's.

• A loan from a 401k's is sometimes a necessity for a participant, however, nearly four out of five participants have rejected the urge to take out a loan.

• Seven out of 10 participants opt not to cash out of their 401k's in the months following a separation from an employer, instead wisely electing to stay in-plan or rolling over into another qualified retirement account such as an IRA.
Fidelity Investments
401k Recent Articles
401k Facts

The Pension Protection Act of 2006 removed obstacles that had kept employers from adopting programs which automatically enroll employees into 401k plans.
In 2007, about 36 percent of plans had automatic enrollment provisions, a substantial increase over previous years. (SOURCE: Center for Retirement Research at Boston College)

Some Myths About 401k’s