More Americans are saving using their 401k plans

COLUMBIA, S.C. (CNN)— More Americans are saving for retirement by investing in 401K plans.

Investment management company Vanguard Group says participation in the plan has reached an all-time high.

It says that’s because more employers are automatically enrolling workers into the plan and participation is expected to go up again this year.

A new law requiring employer to enroll all eligible workers will go into effect next year.

The law demands employers enroll workers at a savings rate of 3% of their salary.