PHOENIX City of Phoenix Deferred Compensation Fund put Turner Investment Partners on watch for performance of the midcap growth investment option it manages for the $843 million 457 plan, according to Kathy Walczak, benefits analyst. Turner manages $29 million for the fund. Tucker Hewes, spokesman for Turner, declined to comment. Mercer Investment Consulting spokeswoman Stephanie Poe said she could not provide further comment. The plan offers 16 investment options.
1 in 10 workers making over $100K isnt in a 401(k)
WASHINGTON About one in 10 workers earning more than $100,000 annually does not participate in the employers 401(k) plan, according to analysis conducted by Watson Wyatt Worldwide. Watson Wyatt also found that 52% of workers earning between $10,000 and $25,000 annually chose not to participate in their firms 401(k) plans. Among all workers whose employers offer 401(k) plans, about 70% participate in the plans, a percentage that has held relatively steady for several years, according to Ed Emerman, Watson Wyatt spokesman.
Also, workers earning at least $100,000 who do participate annually contribute almost 10% of their salary, Watson Wyatts analysis showed. Workers earning between $10,000 and $25,000 annually contribute 6.2% of their salary to 401(k) plans.
Watson Wyatts analysis is based on data collected in December from 300,000 workers at 32 large employers that offer a 401(k) plan.