More defined contribution plan account holders are putting their money into a Roth 401(k), particularly younger participants.
An analysis by Wells Fargo of the DC plans it administers found that 10 percent of all participants contributed to a Roth 401(k) when available, up from 8.9 percent in the first quarter of 2012. Nearly 17 percent of participants under age 30 contributed up from 15.2 percent a year ago. Participants over the age of 60 were not huge adopters of the Roth 401(k), with only 4 percent of participants contributing.
The number of plan participants who had access to a Roth 401(k) increased by 5.3 percent.
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