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In 2001, 26% of eligible workers were not participating in 401(k) plans. In 2004, that number had fallen to 21% of eligible workers. (p.3, Fig.4)
Center for Retirement Research at Boston College. (2006, March). 401(k) Plans are Still Coming Up Short. Chestnut Hill, MA: Munnell, A.H., and Sunden, A. Retrieved on February 6, 2007, from http://www.bc.edu/centers/crr/ib_43.shtml
"The release of the Federal Reserve's 2004 Survey of Consumer Finances (SCF) is a(n)…opportunity to reassess the role that 401(k) plans are playing in the provision of retirement income. The SCF is a triennial survey of nationally representative sample of U.S. households' assets, liabilities, and demographic characteristics....The 2001 survey showed that 401(k) accumulations were coming up short. The 2004 survey shows some progress but most of the problems persist."
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Email: age.work@bc.edu - Phone: 617.552.9195 - Fax: 617.552.9202
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