401(k) participation has increased significantly, with more workers saving for retirement through automated programs.

From Yahoo Finance: 2025-04-19 05:03:00

More Americans are participating in 401(k) plans, reaching 50% of private-sector workers by 2024, up from two-fifths in 2010. Employers offering more plans have contributed to the rise, with initiatives like automated savings programs helping workers save nearly $2 billion.

Starting in 2025, new 401(k) plans must automatically enroll workers, a move aimed at increasing participation rates. The COVID-19 pandemic also boosted 401(k) participation, as companies offered retirement savings as an incentive. The goal is to encourage more Americans to save for retirement through tax-favored plans.



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