Employers Make 401(k) Enrollment Automatic/Broad Changes Are Suggested for Retirement Savings Plans, Business and Industry Trends Analysis

Over 50 million Americans are enrolled in 401(k) savings plans at the workplace, according to the Employee Benefits Research Institute.  The Investment Company Institute (ICI) reported that in the second quarter of 2017, 401(k)s reached an estimated $5.1 trillion in total assets, up from $4.9 trillion for the same quarter in 2016, and $4.7 trillion in for the same quarter in 2015.  Meanwhile, the National Institute on Retirement Security reported in early 2016 that about 45% of working U.S. households with those aged 25 through 64 had no retirement savings. Employers have been trying harder to engage young workers in…

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