Universe Benchmarks Report: Navigating retirement savings in a changing world

Alight took a comprehensive look at the savings and investment behaviors of participants in defined contribution (DC) plans. Drawing on data from almost 100 plans with three million eligible participants, this year’s report sheds light on key trends in plan participation, savings rates, plan balances and more, offering actionable insights for employers and participants alike.

Here’s a snapshot of what we’ve uncovered:

• The average participation rate saw a slight uptick from 83% in 2022 to 84% in 2023
• Savings rates also improved from 8.3% in 2022 to 8.4% in 2023
• The average plan balance increased from $111,000 at the beginning of the year to over $131,000 at year-end

For a deeper dive into these insights and to explore our findings on how age, gender, tenure and industry impact savings behaviors, please read our report.