Close Close

Portfolio > Mutual Funds

Workers Look Away From Stock Slump

Your article was successfully shared with the contacts you provided.

NU Online News Service, Dec. 17, 4:43 p.m. – Many 401(k) plan participants are coping with the stock market slump by trying to ignore it, according to results of a survey by Wiese Research Associates Inc., Omaha.

The researchers who conducted the survey, which was sponsored by Mutual of Omaha Insurance Company, Omaha, Neb., found that 81% of the 302 plan participants surveyed said they spend less than 10 hours per year reviewing their 401(k) plans, up from 75% in 2000.

Nine percent said they spend no time at all thinking about their 401(k) plans, up from 3%.

When the researchers asked participants about the number of investment funds available in their plans, 15% said they had no idea, up from 7%.