The State of the 401(k) A Lim­ited Reach

Bloomberg Businessweek (Asia) - - MARKETS/PERSONAL FINANCE - Ben Steverman

A re­cent re­port from the Govern­ment Ac­count­abil­ity Of­fice de­scribes two Amer­i­cas gear­ing up for re­tire­ment. Among the top half of earn­ers, the op­tion to save in a tax-ad­van­taged 401(k) or sim­i­lar pro­gram at work is com­mon­place. Lower earn­ers are less likely to be of­fered a plan or to con­trib­ute to one if they are. The re­port also cal­cu­lates the ef­fect that low pay and lim­ited ac­cess to re­tire­ment plans will have on those work­ers decades from now.

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