| June 12, 2014

Automatic 401(k) Enrollment is Boosting Retirement Planning

More American workers are being automatically enrolled in these plans, giving them a fighting chance to retire comfortably.

Filling out annoying paperwork and making complicated decisions regarding retirement may become a thing of the past, according to Vanguard, one of the world’s largest investment management companies.

They recently issued their “gold standard” retirement report and it stated that at the end of 2013, 34 percent of their plans used automatic enrollment, and employees who were signed up through this method had a participation rate of 82 percent, dwarfing the 65 percent of those who used voluntary methods.

“401(k) and other defined contribution plans have enabled millions of American workers to accumulate savings for retirement. Automatic programs have played a key role in this success,” said Jean Young of Vanguard’s Center for Retirement Research.

Other highlights of this report include:

  • Sixty-nine percent of these plans automatically boost their contribution rate each year for participating employees
  • A larger number of younger, lower income workers are benefitting from automatic enrollment
  • • In 2013, 62 percent of workers joining for the first time were in plans that had implemented automatic enrollment

Gary Herman, President of Consolidated Credit believes saving for retirement is essential for everyone. “It’s wonderful to see that younger employees are starting to benefit from auto enrollment plans, but everyone of all ages should have some type of retirement planning in place. Your golden years will be upon you before you know it, and preparing now is of the utmost importance.”

If you need help planning for retirement or require expert advice on other money management issues, don’t hesitate to contact Consolidated Credit for a free financial evaluation.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive