Contributions also were down $4.4 billion last year, probably thanks to the federal highway bill, which allowed pension sponsors to delay making their mandatory payments.
The majority of those who were divorced, separated or widowed were not prepared for the financial disruption that came along with the change in their lives.
Drawing 32.7 percent of asset flows in retirement plans in 2014, TDFs make up 22 percent of all assets by market value in the 2015 DC Tracker. This is up from 15.7% the previous year.