2021 was a year of resilience. Eager to leave behind the lockdowns and social unrest that defined 2020, Americans met the new year with optimism and a willingness to adjust to a new normal. Terms like “The Great Resignation” entered our lexicon, as a record number of people quit their jobs in search of something new. When it came to their retirement savings, however, workers remained steadfast. In fact, across almost every key performance indicator, DC plan participation improved. Despite these improvements, employers are determined to do more to help workers with their retirement readiness.
Our 2022 Universe Benchmarks report is the latest in a long line of annual reports that illustrate how workers are saving and investing in defined contribution (DC) plans. This year’s version features data from 100 plans covering more than three million eligible participants. It highlights the most common benchmarking statistics, including plan participation rates, savings rates, balances, investment and trading activity and distributions from accounts (e.g. loans, withdrawals, cash-outs and rollovers).