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Default 401(k) Rates Are Crushing Retirement | Raleigh News
Most people auto-enroll in their 401(k)s and forget about it, but Vanguard’s latest data reveals nearly 40% contribute less than 4%—far below the 12-15% needed for a secure retirement. Two decades after the Pension Protection Act, new reforms are emerging to boost participation, simplify employer offerings, and reach the millions without any retirement coverage. Auto-enrollment has driven record participation, but low default rates create a serious handicap. With more workers using retirement accounts for emergencies, the pressure is mounting. Upcoming initiatives include federal matches for…
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