US workers are again embracing 401(k) plans after the market meltdown and recession left many unable or unwilling to set aside some of their pay for retirement, according to Boston-based Fidelity Investments, the largest workplace savings plan provider.
In the second quarter, more participants in Fidelity’s defined contribution plans raised the amount they set aside. In each of the previous three quarters, the percentage of participants cutting contributions topped 6 percent. But in the second quarter, 4.7 percent boosted their contributions, with just 3 percent decreasing it.
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