While it may be that too few Americans are saving enough, nearly one-third of 401(k) participants increased their contribution deferrals last year, a higher rate than ever seen before, according to a Cogent Reports study.
Just as encouraging: the 26 percent of participants who did not do likewise but said they intend to in the next year.
Last year's rate of deferral increase far surpassed expectations, as only 21 percent of participants indicated their intention to increase deferrals in 2013.
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