Despite an uncertain economic environment, retirement plan participant outcomes thrived in 2023, bolstered by strong growth in employee contributions, according to a preview of Vanguard's newest analysis of retirement saving behavior.
"How America Saves 2024," Vanguard's 23rd edition of the annual report, will be available in June, but a six-page preview of the report detailed key trends surrounding retirement saving and how plan sponsors can respond to them and continue to optimize plan design to best serve plan participants.
"Our initial data highlights that participants generally remained resilient through 2023," according to the report preview. "While there were a few signals of a possible uptick in financial stress, overall, participants' retirement plan behavior remained in line with previous years, and most continued to maintain a long-term view."
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