Retirement Trends

Traditionally, employees have signed up for their employers 401(k) retirement plan with a paper form or an extensive online process, but the new method allows individuals to sign up with a simple text message or through a mobile-friendly website.

Despite their confidence - the survey found that although investors traditionally invest more aggressively as their optimism increases - 49 percent are currently investing more conservatively than they did five years ago.

Leading the pack was Sullivan & Cromwell, a law firm based in New York. BrightScope noted the plan for its low fees, company generosity, participation rate and the size of participants account balances.

The reforms, which led to a strike this week and street protests outside the capitol, increased employee contributions to the retirement system to 10 percent of salary from 9 percent.

American workers lack of retirement readiness has been dropped on the doorstep of the defined contribution market and its been pointed out again and again that 401(k) plans dont offer the same benefits that came with defined benefit pension plans.

These so-called legacy assets pose problems because the employer is still required to manage those assets, even though it has moved the entire 403(b) plan to a different provider.