NU Online News Service, March 17, 2003, 5:34 p.m. EST – Many U.S. workers want more help from employers with saving for retirement, according to results of a new survey from KRC Research, Washington.
The researchers who conducted the survey, which was sponsored by CIGNA Corp., Philadelphia, found that 39% of the 750 401(k) plan participants interviewed failed to contribute the maximum amount because they believed they were contributing all that they could afford to put in.
But more, 47%, said they were contributing less than they could because they felt confused or apathetic, or because they felt their situation was futile.
Sixty-one percent of survey participants said they were aware of the increases in contribution limits in the Economic Growth and Tax Relief Reconciliation Act of 2001. But only 29% of the participants said they intended to take advantage of the increases.