Survey: 401(k) retirement plans still play an important role

04/12/2010 |

Transamerica's 11th annual retirement study suggests that 401(k) plans help Americans save for retirement and increase their financial knowledge. The plans were widely criticized after market declines in 2007 and 2008 that wiped out large portions of retirement savings. "If [401(k)s are] drawing 77% participation rate, there's something right going on here," said Catherine Collinson, president of the Transamerica Center for Retirement Research.

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