Charles Schwab has found that participant engagement in Schwab-serviced 401(k) plans increased dramatically both online and over the phone in the months of September and October 2008. And while the number of people reducing their contribution rates into plans has increased, the majority of participants in Schwab-serviced plans are not significantly shifting asset allocations or reducing contribution rates. Schwab recently released information about retirement plan participant behavior to help employers better understand how their employees are approaching their 401(k) plans in the current market and economic environment.
Here is a summary of Schwab-serviced retirement plan participant behavior for September and October 2008:
Tuesday, December 9, 2008
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