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Retirement Savings Improving for many Americans - USA Today
;After many years of caution from financial experts that most Americans do not save enough for their future retirement, there appears some good news from one of the nation’s top financial firms: that many are taking full advantage of their 401(k) plan. The result is that the savings rate for 401(k) plans has reached more than 14%, approaching the 15% 401(k) savings rate most financial advisors recommend for retirement comfort. By contrast, a decade ago employees contributed 8.1% of their earnings to their 401(k) plan with employers contributing about 4.4% in matching funds, while today, both employee and employer contributions are up, resulting in a total savings rate of 14.3%. This is good news for future retirees in all categories, largely driven by an employer tendency to enhance benefits to attract and retain employees (this is likely a reaction to largely disappearing traditional define-benefit pension plans). In any case, enhanced savings through any means is critical to a comfortable retirement, as suggested in this USA Today article by Daniel de Vise.