Hewitt Says 401(k) Balances Remain 11% Lower Than in 2007
04/22/2010 0 comments
April 20, 2010
By Margaret Collins at Bloomberg.com
Participants in the employer-sponsored plans had account balances of $70,970 in 2009, down from $79,570 in 2007, according to a report released today that surveyed almost 3 million employees.
So taking the contribution rate of 7.3 percent of wages annually cited in the article, we could see that on average, 401K accounts are down even more than 11% in terms of investment returns. It is very critical for participants to not only find a solution to their investment accounts, but find a good solution.
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