401(K)S

By KARA McGUIRE, Star Tribune

Last update: October 31, 2009 - 2:25 PM

401(K)S

BY THE

NUMBERS

73% Overall 401(k) plan participation in 2007, when the Dow hit its record high. 77% Participation in 2008 as the financial crisis raged on. 43% Americans at risk of being unable to maintain their pre-retirement lifestyle during their golden years in 2004. 51% Americans at risk in 2009. 24.3% How far the average retirement account fell in 2008. 7.2% The average annual growth rate of the average 401(k) invested from 2003 to 2008. 29% Percentage of employees who are aware of the fees associated with their 401(k) plans. 80% Percentage of employers who think greater access to 401(k) investment planning advice is more important for workers now than it was a year ago. Source: Center for Retirement Research, Charles Schwab, Employee Benefit Research Institute, Transamerica Center for Retirement Studies.

Recent Your Money stories

More on rental car insurance? You got it - October 31, 2009

More on rental car insurance? You got it - Readers sent in lots of questions and comments about last week's column on refusing insurance at the car rental counter. I wrote that anyone with Minnesota car insurance is automatically covered for $35,000 worth of coverage for loss of use, collision damage and liability. Here are additional questions from readers. More

A tightwad's dilemma: Rethinking buying habits - October 31, 2009

A tightwad's dilemma: Rethinking buying habits - Is it more principled to buy American furnishings, even at a premium? How much is food purity worth? In the depths of the recession, one bargain-hunter rethinks his habits. More