Many U.S. employers are increasingly losing confidence in their workers’ ability to save for retirement and, as a result, plan to step up efforts to help workers maximize 401(k) savings, starting by reinstating the match, Hewitt Associates found. In fact, 80% of companies that suspended or reduced their company match are planning to restore it this year.
In addition, employers are adding automated tools and investment features, Hewitt found in a survey of 162 mid- to large-sized companies with 5.7 million employees. Forty-six percent are very or somewhat likely to add automatic rebalancing tools to their plan in 2010 to keep workers’ portfolios within their target allocations.
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