Skip to main content
EVENT TRACKER
Keep track of rescheduled, canceled industry events with our COVID-affected event tracker - Powered by Snap Finance
Close
Sister Publication Links
  • Rubber & Plastics News
  • European Rubber Journal
tb-logo
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • OPINION
    • CORONAVIRUS
    • AUTO INDUSTRY
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • FACTORY FIXES
    • GOVERNMENT & LAW
    • INTERNATIONAL
    • MOTOR SPORTS
    • NEW PRODUCTS
    • RETAIL TIRES
    • SERVICE ZONE
    • SEMA/AAPEX
    • SMALL BUSINESS
    • TIRE MAKERS
    • SPONSORED CONTENT
    • Titan to offer free COVID-19 vaccines at Iowa facility
      Bridgestone hosts vaccination events for plant employees
      Cioffi: Will remote working be the new normal?
      Bridgestone Iowa plant navigates pandemic, demand
    • Conti adding dynamic driving simulator at German R&D center
      Yokohama gains OE fitments on BMW, Mercedes-AMG sport utilities
      SEMA picks site in Michigan for 2nd SEMA Garage
      Online retailer CARiD.com looks to triple size of tire/wheel installer network
    • Goodyear goes retro for 'Throwback' NASCAR race at Darlington Raceway
      Keter to expand NeoTerra SKUs through mid-2022
      Federal approved as 5th Formula Drift tire supplier
      Falken, Ohtsu tire prices rising May 1
    • JK Tyre adds radial truck tires to U.S. portfolio
      Mitchell 1 enhances ADAS info access in TruckSeries software
      Apollo isn't planning U.S. plant — yet
      Tire Business livestream to focus on commercial tire industry
    • New York chipping in $3M+ toward Sumitomo factory expansion
      SBA extends and expands COVID-19 loan program
      Stimulus spending should help tire industry
      U.S. agro-science firm gets $1M grant to research sunflower latex
    • Keter to expand NeoTerra SKUs through mid-2022
      Nexen touting manufacturing quality milestone
      Japanese R&D cooperative claims breakthrough in sustainable butadiene sourcing
      Guizhou Tyre starts production at Vietnam plant
    • Goodyear goes retro for 'Throwback' NASCAR race at Darlington Raceway
      Federal approved as 5th Formula Drift tire supplier
      Maxxis offers discount to ChampCar competitors
      Michelin strikes supply deals with new Canadian racing series
    • Bosch adds 22 aftermarket parts in Q1
      Snap-On introduces TreadReader handheld tire scanner
      Vogue Tyre introduces ‘biggest, boldest' red stripe tire
      Cooper adds Rugged Trek all-terrain to Discoverer LT/SUV tire line
    • Epicor service estimator to offer access to TireConnect by Bridgestone
      JK Tyre adds radial truck tires to U.S. portfolio
      Apollo isn't planning U.S. plant — yet
      Telle Tire expands footprint with JBC Tire acquisition
    • Bosch adds 22 aftermarket parts in Q1
      Marinucci: Detailed instructions will save time
      Bartec introduces TPMS software updates
      Snap-On introduces TreadReader handheld tire scanner
    • SEMA picks site in Michigan for 2nd SEMA Garage
      SEMA touts expanded Las Vegas Convention Center ahead of 2021 expo
      TIA seeking nominations for Tire Industry Hall of Fame
      SEMA survey shows resilient auto aftermarket in 2020
    • SBA extends and expands COVID-19 loan program
      Stimulus spending should help tire industry
      Giti disputes report blasting tire maker for accepting PPP funds
      SEMA survey shows resilient auto aftermarket in 2020
    • Last Mile: Delivery surge raises demand for medium truck tires
      Nexen touting manufacturing quality milestone
      Apollo isn't planning U.S. plant — yet
      Apollo lands: Tire maker brings commercial portfolio to N.A.
    • Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
      Sponsored By Yokohama Tire Company
      Stocking Tires for Crossover SUVs
      Sponsored By AppointmentPlus
      Three Important Lessons Learned for the Tire Business During a Pandemic
      Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
  • SHOP FLOOR
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Video: Balancing Tire
      Safety tips for wheel balancing
      An introduction to wheel balancing
      Wheel weights: Balancing form with function
    • Video: Demounting
      Tire changer types, tips and trends
      How to clear rim rust and corrosion
      An introduction to demounting, mounting and inflation
    • Video: Safety
      Customers
      Considerations for shop safety policies
      Introduction: Creating a culture of safety
    • Video: Tire Repair
      Essential tools, materials and equipment for tire repair
      An introduction to tire repair
      How to properly patch a puncture
    • Video: TPMS Service
      The life-saving work of TPMS
      An introduction to TPMS service
      The importance of proper relearn procedures
    • Video: Training
      Internship ideas to attract tech talent
      Choosing the right auto service tech school
      Intro: Finding and training technicians
    • Video:Vehicle Lifting
      The gravity of proper lift points
      Safety essentials when using jack stands
      An introduction to lifts and lift safety
    • Video: Wheel Torque
      The importance of torque specifications
      Introduction to proper wheel installation
      Torque check and recheck recommendations
  • Multimedia
    • VIDEOS
    • PHOTOS
    • PODCASTS
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
  • Data
    • DATA STORE
  • Resources
    • DIRECTORY
    • CLASSIFIEDS
  • ADVERTISE
  • DIGITAL EDITION
  • Awards
    • Tire Dealer Humanitarian Award
MENU
Breadcrumb
  1. Home
  2. News
November 23, 2010 01:00 AM

401(k) accounts gained in 2009, report shows

Doug Halonen, Crain News Service
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    CHICAGO (Nov. 23, 2010) — The average 401(k) account was up 31.9 percent in 2009, after declining 27.8 percent the year before, according to a report released Nov. 22 by the Employee Benefit Research Institute and the mutual fund industry's Investment Company Institute (ICI).

    The report also said the average 401(k) account grew at a rate of 10.5 percent annually for plan participants who held the same accounts from the end of 2003 though 2009, the most recent data available.

    As of Dec. 31, 2009, 60 percent of 401(k) plan assets were invested in stocks, with 36 percent invested in fixed-income and money funds, the report said. The remainder was invested in other categories, including real estate, or could not be determined from the data, Ianthe Zabel, an ICI spokeswoman, said in an interview.

    In addition, as of the end of last year, more than 75 percent of the plans in the EBRI/ICI 401(k) database offered target-date funds in their investment lineups; 33 percent of the participants in the database were invested in a target-date fund as of the same date, the report said.

    The EBRI/ICI 401(k) database covers 51,852 plans with $1.2 trillion in total assets and 20.7 million participants.

    The report, “401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2009,” also said 21 percent of all 401(k) participants eligible for loans had loans outstanding against their accounts during 2009, up from 18 percent who had loans outstanding against their accounts during the previous year. The size of the average loan was 15 percent of the remaining account balance during 2009, the study said.

    “Retirement savers, by continuing to invest paycheck by paycheck, saw the benefits of being in the market in 2009, as stock values generally climbed during the year,” said Sarah Holden, ICI senior director of retirement and investor research, in an ICI news release.

    This report appeared in Pensions & Investments magazine, a Chicago-based sister publication of Tire Business.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    tb-logo
    Reader Services
    • Contact Us
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber & Plastics News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • OPINION
      • CORONAVIRUS
      • AUTO INDUSTRY
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • FACTORY FIXES
      • GOVERNMENT & LAW
      • INTERNATIONAL
      • MOTOR SPORTS
      • NEW PRODUCTS
      • RETAIL TIRES
      • SERVICE ZONE
      • SEMA/AAPEX
      • SMALL BUSINESS
      • TIRE MAKERS
      • SPONSORED CONTENT
    • SHOP FLOOR
      • BALANCING
      • DEMOUNTING
      • SAFETY
      • TIRE REPAIR
      • TPMS
      • TRAINING
      • VEHICLE LIFTING
      • WHEEL TORQUE
    • Multimedia
      • VIDEOS
      • PHOTOS
      • PODCASTS
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
    • Data
      • DATA STORE
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
    • ADVERTISE
    • DIGITAL EDITION
    • Awards
      • Tire Dealer Humanitarian Award