American Views on 401(k) Savings Plans

According to the Investment Company Institute (ICI), a national association of U.S. investment companies, latest survey released this month, Seventy-one percent of U.S. households had favorable impressions of 401(k) and similar retirement plan accounts in fall 2014, up from 66 percent in fall 2013 and 65 percent in 2012/2013.

  •  About nine out of 10 households with DC accounts agreed that these plans helped them think about the long term and made it easier to save.
  •  Close to half of DC-owning households indicated they probably would not be saving for retirement if not for their DC plans.
  •  In addition, saving paycheck-by-paycheck made 70 percent of DC-owning households surveyed less worried about the stock market.
  •  More than eight in 10 DC-owning households said the tax treatment of their retirement plans was a big incentive to contribute.
  •  Nearly all households with DC accounts agreed that it was important to have choice in, and control of, the investments in their DC plans.
  •  Eighty-two percent indicated that their DC plan offered a good lineup of investment options
  •  A strong majority of U.S. households disagreed with proposals to remove or reduce tax incentives for retirement savings

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