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Inflation concerns cause reduced 401(k) contributions, survey finds

Posted On: Oct. 6, 2022 9:47 AM CST

Because of inflation and/or concerns about a recession, a survey has found that 62% of employees report that they’ve needed to reduce contributions to their savings, with nearly a third (31%) reducing contributions to their 401(k) plans, reports 401K Specialist. The study by Morgan Stanley found that 26% of those surveyed said they were scaling back on paying off their debts and loans.