WHILE AMERICAN’S 401(K) PLANS SHRINK, Congress wants to bail out unions’ overgenerous and underfunded pension plans.
Reality:
BOSTON (Reuters) – Fidelity Investments said average U.S. retirement-account balances continued to rise in the first quarter as stock markets recovered and more savers resumed contributions to their savings accounts. ...
The average account balance in the 401(k) plans surveyed by Fidelity stood at $66,900 at the end of the first quarter, up 41 percent from the same point a year ago.
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