Participation in defined contribution retirement plans reached an all-time high last year, according to a report by Aon Hewitt.
Nearly four-in-five (78 percent) of those eligible put money into DC accounts, the report said, and the average before-tax contribution rose from 7.2 percent to 7.3 percent. Nearly three-quarters of workers (72.5 percent) saved more than the company match.
Aon also reported that the average participant's plan balance was back to pre-recession levels at $81,240. That compared to $57,150 in 2008. The median balance was reported at $25,150, up from $23,370 in 2011.
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