Benefits April 21, 2008

Americans Saving in Company Plans, IRAs

April 21, 2008 (PLANSPONSOR.com) - Employer retirement plans and IRAs were among the top savings opportunities mentioned in a recent poll about Americans' savings habits during the economic downturn.
Reported by

A news release from the American Institute of Certified Public Accountants (AICPA) about its survey listed company-sponsored retirement plans at 13%, second behind interest-bearing savings accounts at 40%. Other savings opportunities cited were stocks, bonds and mutual funds (11%); IRAs (7%); and CDs (5%).

Twenty-five percent of respondents in the survey of 1,026 adults said they were spending more prudently or not as much as a means to save – up sharply from 2% in 2007 who gave that response.

“It’s both surprising and very encouraging that in the space of a year, so many more people are thinking about their spending habits in the context of saving,” said Carl George, chair of the AICPA’s National CPA Financial Literacy Commission, in the announcement.

align=”left”> The study was conducted by telephone within the United States by Harris Interactive on behalf of the American Institute of Certified Public Accountants between March 5 and March 9, 2008, among 1,026 Americans over the age of 18.

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