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While 401(k) participants haven’t stopped contributing to their retirement accounts, the average rate of savings has declined by 1.6 percentage points, according to research from MassMutual. Older participants have made bigger cuts than their younger counterparts, but, their savings rates tend to be higher. Participation rates continue to rise, most likely due to the prevalence of automatic enrollment; the number of plans adopting auto-enrollment has increased approximately 10 percent since September 2008.

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