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Randall Jeppesen reportingA lot of people aren't doing a good job managing their 401(k)s, according to a new study.
The study by the group called Financial Engines shows one third of us aren't taking full advantage of our company's matching contributions. The biggest problem is with young and low-paid employees. We found plenty of local young workers that don't have a 401(k) at all.
"I've had the opportunity with a couple of my jobs, but I've never been interested," one man told us.
Some don't even know if they want to sign up for one.
Another man said, "Maybe, if I have the opportunity, I guess. Not all jobs offer that."
The study also shows that many people with 401(k)s often mismanage it, such as loading up their holdings with stock from the company they work for. If the company ever goes under, that employee could be devastated financially.
E-mail: rjeppesen@ksl.com
