Workers closest to retirement age are planning to decrease their 401(k) contributions next year, a survey by Mercer found.
While all workers said they expected to save less for retirement next year, the biggest drop was among those 50 and older. Mercer's 2013 Workplace Survey found that those workers planned to contribute an average of $6,708 next year compared to $8,242 this year.
Younger workers also said they planned to contribute less in 2014, although the amount was closer to this year's figure ($7,402 vs. $7,445).
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