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Our 2020 Universe Benchmarks report is the latest in a long line of annual reports that illustrate how workers are saving and investing in defined contribution (DC) plans. This year’s version features data from 116 plans covering more than three million eligible participants, discusses plan participation rates, savings rates, balances, investments, trading activity and distributions from accounts (e.g. loans, withdrawals, cash-outs and rollovers).
The once-roaring Wall Street has since been replaced with uncertainty in light of the COVID-19 pandemic. We hope that critical measures of DC plans such as participation rates and account balances quickly return to their levels before the pandemic. It is important to benchmark those activities from the start of 2020 to fully know when they have returned. Check out the highlights below and download the report for more insights on workers’ behaviors in DC plans.
Average plan balances are down 17%
Average plan balance $101,070 as of 3/31/20 compared to $122,150 as of 1/1/20
First quarter of 2020
14% of participants made a trade—on track for an overall yearly increase
In all of 2019
21% of participants made a trade
18% of participants increased their contribution
6% of participants decreased their contribution, but are still saving
2% of participants stopped contributing
If you are interested in a more in-depth analysis of plan data, including deeper cuts by age, gender, tenure and industry, talk to us!