As consumers become more attached to mobile devices and apps, and as recordkeepers incorporate functions to make plans more participant-friendly, one area that's seen substantial growth is the capability for mobile transactions in 401(k) plans.
According to Corporate Insight's Retirement Plan Monitor, which tracks 19 of the biggest recordkeepers, 13 of the firms—68 percent—provide at least one transaction on either a phone app, tablet app, or optimized mobile website.
Of these 13 firms, 69 percent feature a mobile site, 62 percent offer a phone app and 46 percent provide a tablet app that include at least one transaction capability.
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