Millennials were the biggest group to sign up for their employer 401(k) program in the first half of 2014, defying stereotypes and presenting new business opportunities for advisors, according to a new retirement planning study.
Bank of America Merrill Lynch found that nearly 40,000 of millennial workers who enrolled in their employers 401(k) plans lead the study released this week. The surge represents a 55% increase in millennial first-time contributors from the same period last year, according to the wirehouses biannual 401(k) Wellness Scorecard.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access