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October 04, 2011 at 10:36 AM
Account values for employer-sponsored retirement plans increased by 4.9% between 2007 and 2010, according to a new report.
Principal Financial Group Inc., Des Moines, published this finding in a new report, “The Total View 2011,” which explores trends in retirement plan solution plan designs. The survey covers defined contribution (including 401(k) and 403(b)) defined benefit, employee stock ownership and non-qualified plans.
The report finds that average rate of returns improved over the survey period, bouncing back from -23.9% in 2009 to 16.5% in 2009 and then again 2010 to 10.9%.
However, only 36% of employees they are confident, very confident or extremely confident in their ability to achieve their financial goals.
Nearly double the number of participants increased their contributions (19.1%) rather than stopped or decreased (9.7%), the report says.
