Participation in 401(k) plans is growing, but employers wonder how many are saving enough for retirement, according to Deloitte Consulting L.L.P.
Researchers at Deloitte, New York, found than 67% of employers reported more than 70% participation among eligible employees this year, up from 63% reporting that level of participation for 2005.
In addition, 24% of plans reported participation rates exceeding 90%, up from 19%.
Other survey findings:
o20% of participants say “very few” of their employees either are or will be financially prepared for retirement, while 65% say only “some” will be prepared.