Auto-enrollment drives 401(k) participation to record levels

05/25/2011 | Business Insurance (tiered subscription model)

Lawmakers' 2006 decision to remove obstacles to automatic 401(k) enrollment has led to an uptick in participation in defined-contribution plans, according to an Aon Hewitt study. About 76% of eligible employees now participate in a plan, up from about 67% in 2005; meanwhile, about 60% of employers now offer automatic enrollment, up from 24% in 2006.

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