If only 10 percent of the roughly 600,000 employers that currently offer workplace retirement plans suspended or reduced their contributions, the long-term impact would be huge.
J.P. Morgan Asset Management surveyed owners of businesses with between five and 50 employees and annual revenues ranging from $50,000 to $20 million about their 401(k)s.
An increase in certain bad financial habits – likely brought on by the pandemic – could be one reason why Americans are feeling more stressed this year.