401K's Dummies!

Investors continued to put money into their 401(k) plans last year despite the market turmoil, according to a study released today by the Investment Company Institute.
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The study examined defined contribution plans covering more than 22 million participants.
Despite slight changes since October, the data are in line with past reports, according to the Washington-based mutual fund industry organization.
Just 3.7% of participants stopped contributing to their accounts, the ICI found. Most participants also maintained their asset allocation, with just 14.4% changing their portfolio mix and just 12.4% altering their contribution mix.
Just 3.9% of participants took withdrawals last year. Of those, 1.3% reported taking a “hardship” withdrawal due to a personal financial crisis, up from 1.2% in October.
About 15% had outstanding loans at the end of the year