NU Online News Service, Sept. 24, 2:22 p.m. – Hewitt Associates L.L.C., Lincolnshire, Ill., says its 401(k) index shows participants in 401(k) plans are moving assets out of stock funds.
Because of asset transfers and drops in stock prices, the 1.5 million plan participants the firm tracks now have an average of only 63.3% of their plan assets in stock funds, down from an average of about 71.5% earlier in the year.
Last week, the plan participants tracked shifted a total of 1.15% of their plan assets from one account to another, compared with a typical transfer volume of about 0.33% of assets.
