Advisers Fear Consumer Debt Limits Employee-Retirement
Wall Street Journal (09/12/00) Vol. 110, No. 10 p.A1; Tejada, Carlos

Consumer credit hit $1.47 trillion in July, and experts fear that debt is keeping employees from contributing to their 401(k) plans. According to a Strong Investments survey last year, 11 percent of plan participants said they were not saving because of debt, and 35 percent said they were not saving as much as they wanted to. Some companies offer time off for credit counseling, while others enroll workers in 401(k) plans with a set contribution level unless the employees specify otherwise.


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