More employers make 401(k) enrollment automatic

By doris | Published: August 25, 2010

Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — You could be contributing to a retirement plan without even knowing it.

That’s because an increasing number of companies are offering “opt-out” 401(k) plans that encourage more workers to save

The percentage of employers that offer automatic 401(k) enrollment has increased dramatically to 38%, according to financial services company Charles Schwab (SCHW, Fortune 500). That’s more than seven times the rate in 2005, when automatic enrollment was at 5%.

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