The number of employees switching asset allocations in their 401(k) programs increased in the month of January, according to an index released by Hewitt Associates of Chicago that measures the daily activity of 401(k) assets of 1.5 million employees.

The net activity for the month of January was 0.12 percent, up from 0.08 percent for the same period last year. Reallocations from fixed income funds to equity funds made up most of the activity, according to Lori Lucas, a defined contribution consultant with Hewitt.

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