Workers’ retirement plan asset totals may be starting to stabilize.
The percentage of workers who say their retirement plan balance is the same as it was Jan. 1, 2008, or higher has doubled to 18% from 9%, since the previous quarter, according to Principal Financial Group Inc., Des Moines, Iowa.
The percentage of workers who say it would take less than 2 years for their plan balance to recover rose to 16% from 11%.
Principal is basing those figures on results from an online survey of 1,147 employees and 558 retirees conducted from late July to mid-August, and a similar survey conducted 3 months earlier.
About 11% of the workers participating in the latest Principal survey said they have increased the amount they are contributing to their 401(k)s plans since the previous quarter.
Results of the latest survey hint that the economy may have started to rebound, according to Dan Houston, president of retirement and investor services at Principal.