Employee financial wellness has improved dramatically over the past year.

The latest Bank of America Merrill Lynch Wellness Scorecard found that 401(k) plan features like automatic enrollment, auto escalation and age-based default investments and guidance are having a very positive impact on employee financial wellness.

During the first quarter of 2013, more than 26,000 employees were automatically enrolled in 401(k) plans serviced by Bank of America Merrill Lynch and only 7 percent opted out.

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