The combination of a robust U.S. equity market and the proliferation of company-sponsored retirement plans helped push total assets in 401(k) pans over the $3 trillion threshold at close of last year, up 13% from 2009.
According to the Society of Professional Asset-Manager and Record Keepers (SPARK) and the SPARK Institute, more than 74 million U.S. workers were participating in more than 536,000 different 401(k) plans, up from 73.4 million workers and 510,000 plans, respectively, in 2009.
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