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April 22, 2010 at 08:00 PM
Participants in 401(k) plans took even fewer active steps to manage their assets in 2009 than they did in 2008.
Consultants at Hewitt Associates Inc., Lincolnshire, Ill., have published statistics supporting that conclusion in a summary of results from an analysis of the actual saving and investing behavior of about 3 million employees at 120 large employers.
Only 16.2% of the employees made any fund transfers in 2009, down from 19.6% who made transfers in 2008, the Hewitt consultants report.
The overall participation rate held steady at about 74%, and the average contribution rate held steady at about 7.3%.
