Missing the match on your 401(k)?
Nearly 25% of companies surveyed by Charles Schwab and CFO Research Services say they have eliminated the match to save money during the economic downturn.
This comes on top of a market that has wiped out as much as half of Americans’ retirement savings.
Other findings:
* 63% of executives surveyed say personal finances concerns are creating a more difficult work environment.
* 88% of executives surveyed say employees within five years of retirement are concerned their retirement planning has not been adequate.
* 58% of executives surveyed say employees losing confidence in 401(k)s is one of their biggest challenges retirement planning challenges.
Click here to read the study.
As the market flounders it’s become painfully obvious that the 401(k) has been oversold as a retirement savings vehicle.
