A Harris Interactive online survey of 1,200 defined contribution plan participants showed that 28% have moved from volatile to more-stable investments because of disappointing stock market returns in the second quarter, up from 14% in the first quarter.
The survey also showed 80% of small and midsize company employees are "very concerned” about their financial futures, up from 74% in the fourth quarter of 2000 but down from 84% in the first quarter of 2001. At the same time, 30% of respondents said they plan to contribute more to their qualified plans or individual retirement accounts because of recent legislation raising the tax-deferred amount employees can contribute.
The survey was commissioned by the Principal Financial Group.
