Most American workers who invest through a 401(k) plan are staying the course through turbulent markets, according to research by the Investment Company Institute.
In a survey of records on 22.5 million accounts participating in 401(k) retirement plans, ICI, Washington, found that just 3% of participants stopped contributing to their retirement plan during the first 10 months of 2008, despite the decline in account balances caused by the 40% drop in U.S. stock markets.
Among other findings: