Screaming headlines of dubious reports purporting that 401(k) plan participants raiding their retirement savings are au courant these days.

But a Bank of America Merrill Lynch study suggests an opposite trend, and the fact that Merrill’s retirement plan management encompasses 2.5 million total plan participants and plan assets of $98.1 billion gives weight to the study’s quite upbeat conclusion: that 2012 was a model year and that Americans are fortifying their retirement readiness.

Kevin Crain“Of all participants in their retirement plans taking an action, we like to measure how many are taking positive actions and how many negative actions,” said Kevin Crain (right), head of institutional retirement and benefit services for Bank of America Merrill Lynch, in an interview with AdvisorOne.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.