And the use of 401(k) loans fell to a nine-year low of 22.5% in 2018, according to T. Rowe Price’s annual participant data benchmarking report.
Tag: auto enrollment
This is down from three-quarters last year, a PIMCO survey found
A study from the TIAA Institute finds focusing on financial literacy and understanding of exponential growth boosts participation and savings in an opt-in DC plan plan, while efforts targeted at procrastination tendencies do so for automatic enrollment plans.
Only 31% of Americans are confident they will have saved enough by the time they retire.