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Economy slowing down 401(k) contributions

By Lisa Shidler

April 30, 2008 12:52 pm ET

Due to the current economic climate, 8% of investors have halted or reduced their contributions in 401(k) plans in recent months, according a study to be released next week.

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The study from Cogent Research LLC of Cambridge, Mass. showed that 57% of respondents are worried about maintaining their current standard of living.

Bruce Harrington, managing director for Cogent, spoke about the study today at the Retirement Income Distribution Evolution Summit at the Harvard Club in Boston.

The survey canvassed 1,000 respondents online in March and April.

The conference is sponsored by Financial Research Associates LLC of Santa Cruz, Calif.

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