Vanguard: 60 Percent of 401k Accounts Recovered

Wednesday, 02 Dec 2009 12:36 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

DES MOINES, Iowa -- Another major provider of 401(k) accounts says the typical retirement saver now has more money in their account than they did before the stock market began tumbling two years ago.

The Vanguard Group Inc. said Wednesday that 60 percent of participants who continued to contribute and stayed invested have more money in their accounts than they had in September 2007, before the market decline.

That means 40 percent of continuous participants have lower balances, although Vanguard said most of them are less than 20 percent below their earlier peak value.

Vanguard looked at participant balances between September 2007 and September 2009, a period during which the market peaked in October 2007 and declined dramatically in 2008 and early 2009. The company has 1.7 million retirement account participants.

Special: Get Sarah Palin’s New Book – Incredible FREE Offer -- Click Here Now.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Obama May Delay Immigration Action Until After Midterms

Saturday, 30 Aug 2014 11:12 AM

President Barack Obama may delay executive action on immigration until after the November midterm elections as Democrats . . .

Kerry Urges Global Coalition to Fight ISIS 'Cancer'

Saturday, 30 Aug 2014 07:53 AM

Secretary of State John Kerry has called for a global coalition to combat the Islamic State jihadist group and their ge . . .

Saudi King: West Will be Jihadists' Next Target

Saturday, 30 Aug 2014 07:50 AM

King Abdullah of Saudi Arabia has warned that the West will be the next target of the jihadists sweeping through Syria a . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved