While the number of Americans who play to rely on a 401(k) as a major source of retirement is rising, it has still not reached the level it was at before the Great Recession, according to a new Gallup poll.
Prior to the recession, most Americans planned to rely on a 401(k), IRA, Keogh, or other retirement savings account when they retire. Today, Gallup found, 48 percent of Americans say they would rely on a 401(k) account in retirement, a percentage that has not rebounded to pre-recession levels of 54 percent.
During the recession, according to Gallup, many working Americans saw the value of their 401(k) accounts drop, which may have made them skeptical that they would be able to rely on these accounts as a source of income in retirement.
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