COVID-19 has more employees paying attention to their 401(k)s

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Although COVID-19 has dealt a blow to many employees’ retirement behavior and optimism, there’s at least one bright spot: The pandemic has caused some participants to pay more attention to their retirement accounts and savings progress.

Although 60% of respondents in a new survey from provider Vestwell said their behavior regarding their 401(k) stayed the same over the last year, about one-quarter said they checked their account more often, 10% increased their contributions and 6% made investment changes. The provider surveyed more than 1,000 participants.

“Employees showed a heightened awareness around their retirement plan balances in 2020,” says Ben Thomason,

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