US - American savers have continued to contribute to 401(k) plans despite the economic downturn, but evidence suggests they are also increasingly withdrawing savings to help get through the credit crunch.
Analysis by Hewitt of some 2.7 million employees has shown the average 401(k) plan balance has dropped from $79,000 in 2007 to $68,000 - a decline of 14% - while, over the last two months, the aver...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date