Plan participants are, by and large, continuing to save for retirement, with hardship withdrawals holding steady and allocations staying pretty much the same.
Those are some of the findings from the Investment Company Institute’s research report “Defined Contribution Plan Participants’ Activities, 2014,” which found that most people in a DC plan are continuing to contribute. Just 2.9 percent stopped doing so during 2014; that’s up just a bit from 2013’s 2.7 percent.
DC plan assets make up 28 percent of all retirement assets, the report said, totaling $6.8 trillion out of a total $24.7 trillion asset pool that includes not just DC plans but annuities, IRAs, and public and private defined benefit plans. Those DC assets also accounted for about a tenth of households’ aggregate financial assets as of the end of 2014. In 2013, DC plans totaled $6.3 trillion.
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