April 10, 2009
Young Workers Focus On Retirement Savings
Retirement plan participants under age 30 are putting more money into their plans than in the past, according to Mass Mutual's Retirement Services Division.
The company said the average savings rate for its plan participants under 30 rose from 3.9 in the fourth quarter of 2008 to 4.6 percent in the first quarter of 2009.
MassMutual said a quarter of its participants changed their asset allocation during the first quarter, mainly moving funds into stable value or lifecycle investment options.
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