Study: Workers increasingly rely on 401(k) plans

02/11/2009 | Financial Advisor

Workers increasingly look at 401(k) plans as their primary retirement vehicles despite recent market losses and cutbacks by employers, according to a survey released Monday by the Employee Benefit Research Institute. "They need it more than ever, but at the same time, companies are balancing their bottom lines as well," said Pam Hess, director of retirement research at Hewitt Associates. The survey found 401(k) plans are more widely available than ever.

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