Most Americans Living Paycheck to Paycheck, Still Contributing to 401(k) According to Survey for American Payroll

SAN ANTONIO, TX, Sep 30 (MARKET WIRE) --
Seventy one percent of American employees are living paycheck to
paycheck, according to results released today from the 2009 "Getting Paid
In America" survey.

The online survey by the American Payroll Association (APA) asked
respondents how difficult it would be to meet their current financial
obligations if their paycheck were delayed for a week. Just over 28,000 of
the nearly 40,000 respondents (about 71 percent) said they'd find it
somewhat difficult or very difficult to pay their bills if their paycheck
were delayed for just one week.

"This result confirms Americans are finding it difficult to save money in
this tough economy," said Dan Maddux, executive director of the American
Payroll Association. "Americans should use free payroll-related benefits
such as direct deposit, 401(k) plans and Flexible Spending Accounts to
ease savings, reduce tax burden and maximize paychecks."

Surprisingly, even with the high number of people living paycheck to
paycheck, Americans are still taking advantage of their company 401(k)
benefit plans. Eighty-two percent of survey respondents with access to a
401(k) plan indicated they are still contributing to the retirement fund,
with 19 percent indicating they have actually raised their contribution
amount since September 2008. An additional 19 percent indicated they
lowered their contribution since September 2008.

One of the most important things you can do for your future is develop a
strategy and a vehicle for achieving your financial retirement goals,"
said Tony Tortorella, Vice President of Human Resource Services Sales for
Paychex, Inc. "Not only are more companies offering retirement plans, but
the addition of features such as auto enrollment make it even easier for
employees to participate."

The "Getting Paid In America" survey was held in conjunction with APA's
annual public awareness campaign, National Payroll Week (NPW), held
annually the week of Labor Day. Nearly 40,000 employees responded to the
survey, providing insight into how workers are paid in America. For
complete survey results or more information on the National Payroll Week
awareness campaign, visit http://www.nationalpayrollweek.com.

The American Payroll Association is the nation's leader in payroll
education, publications, and training. Visit APA online at
http://www.americanpayroll.org.

Contact:
Mark Coindreau
American Payroll Association
(210) 226-4600 x2277
Email Contact

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