Released: August 24, 2009

About your 401(k)

Source: New York Times (Free Registration)

Even before the financial crisis, most Americans were not saving enough for retirement. But the crisis has highlighted, and heightened, the risk of coming up short, as is clear to anyone who has dared to open his or her 401(k) statements in the past year. Even with recent stock market upswings, account balances are roughly 25 percent lower than before the crash. Such losses are especially harmful to employees who are near retirement and will not have enough time to rebuild their accounts; they will either have to work longer, if they can, or make do with less.

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