401(k) Statistics 2024 - Everything You Need to Know

Are you looking to add 401(k) to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important 401(k) statistics of 2024.

My team and I scanned the entire web and collected all the most useful 401(k) stats on this page. You don’t need to check any other resource on the web for any 401(k) statistics. All are here only 🙂

How much of an impact will 401(k) have on your day-to-day? or the day-to-day of your business? Should you invest in 401(k)? We will answer all your 401(k) related questions here.

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On this page, you’ll learn about the following:

Best 401(k) Statistics

Best 401(k) Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 182 401(k) Statistics on this page 🙂

401(k) Market Statistics

In comparison, 401assets were $3.1 trillion and represented 17 percent of the US retirement maret in 2011. ^[0]
Retirement savings accounts held a little more than half of long term mutual fund assets industrywide but a much smaller share of money market fund assets industrywide. ^[0]
Eight percent of account balances was invested in bond funds, 2 percent in money market funds, 6 percent in guaranteed investment contracts and other stable value funds, and 12 percent in the fixed income portion of balanced funds. ^[0]
Many 401plans still default to either a money maret mutual fund or a stable value fund an average of 13%. ^[1]
Typical money market mutual fund returns are below 1%, while a stable value fund might deliver a slightly better 2. ^[1]

401(k) Adoption Statistics

According to one survey, 73 percent of employers who were unlikely to adopt autoenrollment cited the increased cost of the employer match as a major barrier to such adoption. ^[2]

401(k) Latest Statistics

Percentage of plans with less than $1 million in assets. ^[3]
Percentage of plans with between $1 million and $10 million in assets. ^[3]
Percentage of plans with fewer than 100 participants. ^[3]
Percentage of all 401assets in plans with more than $1 billion in assets Percentage of all 401participants in plans with more than $1 billion in assets. ^[3]
Percentage of all workers participating in a workplace retirement plan of any kind, 2019. ^[3]
Percentage of all worers participating in a defined contribution plan such as a 401, 2019. ^[3]
Percentage of nonHispanic white households with a family member participating in a 401style definedcontribution plan, 2016. Percentage of Hispanic households with a family member participating in a a 401style defined. ^[3]
Average salary deferral percentage in Vanguard retirement plans, 2019. ^[3]
Percentage of all plans that include target. ^[3]
Percentage of all plan assets that are in U.S. equity funds, 2017. ^[3]
Percentage of all plan assets that are in international. ^[3]
Percentage of all plan assets that are in bond funds, 2017. ^[3]
Percentage of all plan assets that are in guaranteed investment contracts, 2017. ^[3]
Percentage of all plan assets that are in target. ^[3]
Percentage of all plan assets in targetdate funds, 2009. Percentage of 401assets in target. ^[3]
Percentage of all plan assets that are in target date funds, plans with more than $1 billion in assets. ^[3]
Percentage of all plan assets that are in target date funds, plans with less than $1 million in assets. ^[3]
Percentage of all 401assets that were in index funds, 2017. ^[3]
Percentage of all 401assets that were in index funds, 2006. ^[3]
Percentage of assets in 401plans with assets of more than $1 billion that are invested in index funds. ^[3]
Percentage of assets in 401plans with assets of less than $1 million that are invested in index funds. ^[3]
Investment Types Mutual Funds Dominate, but CITs on the Move Percentage of assets in all 401plans that are in mutual funds. ^[3]
Percentage of assets in all 401plans that are in collective investment trusts. ^[3]
Percentage of assets in all 401plans that are in guaranteed investment contracts. ^[3]
Percentage of assets in all 401plans that are in separate accounts. ^[3]
Percentage of assets in 401plans with more than $1 billion in assets that are in mutual funds. ^[3]
Percentage of assets in 401plans with more than $1 billion in assets that are in collective investment trusts. ^[3]
Percentage of assets in 401plans with more than $1 billion in assets that are in guaranteed investment contracts. ^[3]
Percentage of assets in 401plans with more than $1 billion in assets that are in separate accounts. ^[3]
Percentage of assets in 401plans with less than $1 million in assets that are in mutual funds. ^[3]
Percentage of assets in 401plans with less than $1 million in assets that are in collective investment trusts. ^[3]
Percentage of assets in 401plans with less than $1 million in assets that are in guaranteed investment contracts. ^[3]
Percentage of assets in 401plans with less than $1 million in assets that are in separate accounts. ^[3]
Average asset weighted expense ratio for equity mutual funds overall plans), 2019. Percentage of. ^[3]
Percentage of plans with more than $1 billion in assets that offer automatic enrollment, 2017. ^[3]
Percentage of plans with less than $1 million in assets that offer automatic enrollment, 2017. ^[3]
Percentage of large plans that offer automatic escalation , 2019. Percentage of all large 401plans that offer employer contributions, 2017. ^[3]
Percentage of 401plans with more than $100 million in assets that offer employer contributions, 2017. ^[3]
Percentage of 401plans with less than $10 million in assets that offer employer contributions, 2017. ^[3]
Percentage of of 401plans with less than $1 million in assets that offer employer contributions, 2017. ^[3]
50% of match on 6% of salary The most common matching arrangement for large 401plans that use a simple match (19.4% of large plans use this configuration). ^[3]
Percentage of employers that suspended matching contributions in early 2020. ^[3]
Roth, Aftertax Options Percentage of Vanguard plans that offer a Roth 401option, 2019. ^[3]
Percentage of participants in Vanguard plans with a Roth 401option who utilize that option, 2019. ^[3]
Percentage of Vanguard plans that offer an aftertax 401option, 2019. ^[3]
Percentage of participants in Vanguard plans with an aftertax 401option who utilize that option. ^[3]
Percentage of all plans with loans outstanding, 2017. ^[3]
Percentage of large plans that offer some type of advice to participants , 2019. ^[3]
Percentage of large plans that offer managed accounts, 2019. ^[3]
The switch from pensions to 401s has been so thorough that 50% of all worers now have access to defined contribution plans. ^[4]
That’s the participation rate for 2019, according to the latest survey by the Plan Sponsor Council of America. ^[4]
Plan Sponsor Council of America’s survey also found the use of automatic enrollment hit new highs with 61.2% of plans offering the feature. ^[4]
The average deferral rate is 7.1% according to research from 401K Specialist. ^[4]
Last year, it was reported to be 6.2%, partially due to low initial deferral rates. ^[4]
When a plan uses auto enrollment, these default rates are often initially set very low, around 3%. ^[4]
That’s the average number of investment options offered by 401plans in 2014, according to MaretWatch. ^[4]
77% of 401participants are invested in target date, aa “set and forget” funds. ^[4]
As always, you can expect 401expense ratios to range from 0.3% to 2%. ^[4]
However, recordkeepers like Merrill Edge, Vanguard, and Fidelity are offering low comprehensive expense ratios at 0.52%. ^[4]
Allin fees have a wide range from 0.2% to 5%, though recent studies found the average allin fees to be 2.2%. ^[4]
For example, 401Specialist found that small plans with $5 million in assets costs 1.24 %, while the plans with $50 million in assets is 0.93 %. ^[4]
In fact, 97% of Vanguard participants belong to a plan where target date funds are available. ^[4]
According to research by Fidelity Investments, 18% of plan sponsors are looking to hire a new advisor. ^[4]
Finally, we do find that plans with automatic enrollment offer match rates that are, on average, 0.38 percentage point lower than the rates of plans without automatic enrollment, even when we control for other characteristics. ^[2]
A number of cost, fiduciary, and tax incentives in the PPA have been identified as liely drivers of employers’ increased willingness to adopt various automatic provisions, including automatic enrollment, in their 401plans. ^[2]
Overall, 51 percent of workers in the full NCS sample have a DC plan. ^[2]
Among those, 76 percent have a savings and thrift plan, and 69 percent of workers with such a plan have a flat match structure. ^[2]
For example, if a 401plan has a match rate of 50 cents per dollar up to a ceiling of 6 percent of pay, the maximum match rate is 3 percent of pay. ^[2]
This variable is computed as /100.Default contribution rateInteger from 0 to 100In plans with automatic enrollment, the default employee contribution percentage. ^[2]
In our sample, 14.5 percent of workers with savings and thrift plans have automatic enrollment. ^[2]
This percentage includes between 20 and 25 percent of workers in agriculture, mining, and construction; wholesale trade; and financial services, insurance, and real estate; however, it represents only about 4 percent of workers in retail trade. ^[2]
The percentage also includes about 1 in 5 workers employed by large firms with at least 1,000 employees, but only 1 in 8 workers in small firms with less than 500 employees. ^[2]
For example, 20.3 percent of workers with autoenrollment plans are in the financial services, insurance, and real estate sectors, compared with 14.1 percent of workers with plans without autoenrollment. ^[2]
Also, 43.7 percent of workers with autoenrollment plans are employed by large establishments , compared with only 30.3 percent of employees who are not autoenrolled. ^[2]
In addition, while 17.7 percent of autoenrolled workers hold unionized jobs, only 4.4 percent of those without autoenrollment do. ^[2]
Finally, only 4.0 percent of workers in firms with autoenrollment have wages in the bottom tercile of the wage distribution, compared with 13.4 percent of counterparts in firms without automatic enrollment.28. ^[2]
Overall, 68.7 percent of workers participate in their employers’ plans. ^[2]
Confirming the findings of previous studies, we find that plans with automatic enrollment have a higher participation rate than do plans without the feature. ^[2]
The average match rate is 71.1 percent and differs statistically between workers in plans with and without automatic enrollment. ^[2]
The average match ceiling is 5.0 percent of pay and does not statistically differ between workers with and without automatic enrollment. ^[2]
The maximum match rate averages 3.5 percent overall and statistically differs between the two groups of workers; the rate is 3.5 percent for those without autoenrollment and 3.2 percent for those with the plan feature. ^[2]
The average default contribution rate for workers in autoenrollment plans is 2.8 percent. ^[2]
To receive the maximum match, workers would need to contribute an average of 5.1 percent. ^[2]
Even with the built in escalation of the default contribution rate in 22 percent of our plans, the default maximum contribution rate is 3.4 percent. ^[2]
Among plans with automatic enrollment, about three quarters have a default match rate and a default maximum match rate of 2 percent or less of pay; however, less than a third of these plans have a maximum match rate within that range. ^[2]
An even smaller percentage of plans without automatic enrollment have a maximum match rate of 2 percent or less of pay. ^[2]
Among the savings and thrift plans in our sample, automatic enrollment is associated with participation rates that are 7 percentage points higher. ^[2]
Results from our OLS regression of employers’ maximum match rate show that the coefficient on automatic enrollment is negative and statistically significant, with a 99. ^[2]
Controlling for other factors, plans with automatic enrollment have an average maximum match rate that is 0.38 percentage point lower than the rate of plans without the provision. ^[2]
On average, plans with automatic enrollment have a match rate that is 8.2 percentage points lower than the rate of plans without the feature. ^[2]
For example, the average maximum match rate and the average match rate for these industries are higher—1.1 percentage points and 15.2 percentage points higher, respectively—than the corresponding rates in wholesale trade. ^[2]
Plans among establishments with at least 500 employees have an average maximum match rate that is 0.2 percentage point higher and an average match rate that is 4.9 percentage points higher than corresponding plan rates in smaller establishments. ^[2]
For example, the DC cost share for firms in the middle quintile of total compensation is 0.6 percentage point higher than that for firms in the bottom quintile; for firms in the top quintile, the share is 1.7 percentage points higher. ^[2]
Using nationally representative data, we confirmed the results of previous case studies, which have shown that automatic enrollment is associated with higher plan participation rates—7 percentage points higher, on average. ^[2]
We also found that plans with automatic enrollment offer maximum match rates that are 0.38 percentage point lower, on average, than are the rates of plans with autoenrollment. ^[2]
The maximum match rate averages 3.5 percent for plans without automatic enrollment and only 3.2 percent for plans with automatic enrollment. ^[2]
Even after controlling for other factors, we found that automatic enrollment is associated with a maximum match rate that is 0.38 percentage point lower. ^[2]
Among workers with autoenrollment plans, the default contribution rate averages only 2.8 percent. ^[2]
Yet, to receive the maximum match, these workers would need to contribute an average of 5.1 percent of pay. ^[2]
https//doi.org/10.21916/mlr.2015.15 The Survey of Income and Program Participation shows that 59 percent of eligible workers in the bottom income tercile participate in a DC plan, compared with 85 percent of those in the top tercile who do. ^[2]
Of the sponsors who implemented automatic enrollment, 43 percent found a positive impact of automatic enrollment on their nondiscrimination test results and only 1 percent found a negative effect. ^[2]
In its annual survey of member companies, the Plan Sponsor Council of America also reported that 46 percent of plans had an automatic enrollment feature in 2011, up from 24 percent in 2006 and 4 percent in 1999. ^[2]
A PSCA survey reported that the most common default deferral is 3 percent of pay; see “PSCA’s 55th Annual Survey of profit sharing and 401plans”. ^[2]
Among workers in all savings and thrift plans in our data—including workers with tiered match structures—19 percent have plans with an autoenrollment provision. ^[2]
At the establishment level, 25 percent of establishments with savings and thrift plans have at least one plan with automatic enrollment. ^[2]
In contrast, the PSCA’s 54th Annual Survey referenced above reports that 41.8 percent of plans had automatic enrollment in 2010. ^[2]
While only 12 percent of workers in our sample have wages in the bottom tercile of the wage distribution, 54 percent have wages in the top tercile. ^[2]
The resulting measure accounts for 43 percent of the variation in employer costs for DC plans, and its estimated effect on costs is close to 1. ^[2]
That represents 6.3% of eligible individuals using Fidelity’s workplace savings platform. ^[5]
The overall average 401balance came to $121,500 as of the fourth quarter of 2020, according to Fidelity. ^[5]
To get there, the company recommends aiming to consistently save 15% of your income, including both your employee contribution and the employer match. ^[5]
Even if you start small, try to increase your contribution by small increments as you can to work your way up to 15% of your salary, Badeau says. ^[5]
At the average firm, 36% of match eligible employees over age 59½ forgo arbitrage profits that average 1.6% of their annual pay, or $507. ^[6]
A survey educating employees about the free lunch they are forgoing raised contribution rates by a statistically insignificant 0.67% of income among those completing the survey. ^[6]
While fees and expenses vary for each plan the average expense ratio range is from 0.3% to 2%. ^[7]
The average all in fee is 2.22%, but it can range from 0.2% to 5%. ^[7]
85% of participants feel that it is especially important their plans have transparent and low. ^[7]
Betterment, 2020) 7.1% is the average deferral rate. ^[7]
401k is the most popular method for saving money for retirement (98%), with the second option being saving in a savings account (61%). ^[7]
The largest source of income in retirement for 62% of participants will be their 401k. ^[7]
Government bonds on average give a 5.5% return annually, largecap stocks returned 10.2% compounded annually, while small cap stocks returned 12.1%. ^[7]
U.S. retirement assets now account for onethird of all household financial assets Two thirds of participants (64%). ^[7]
64% of participants check their accounts at least once every pay period. ^[7]
The number of sponsors that are actively looking to switch advisors has significantly dropped at only 18% 92% of American workers with 401k plans have reported that having a pay roll deduction helps them save. ^[7]
401k Participation More than 90% of employees are eligible to apply for their employer’s defined contribution plan. ^[7]
Only about 45% of part time workers are offered a 401k or similar savings plan. ^[7]
40% of employers who do not offer auto enrollment have said that they do not plan to change. ^[7]
Only about 25% of Baby Boomers believe their savings will be enough to last them for retirement. ^[7]
Despite low salaries and high debt loads, millennials have a surprisingly high participation rate in 401k plans (82%). ^[7]
About 70% of Boomers have said that having a saving account that is guaranteed for life is particularly important to them. ^[7]
According to the Social Security Administration, average U.S. annual wages in 2017 were both $48,251.57 and $31,561.49. ^[8]
At year end 2018, 62 percent of 401participants in their twenties held target date funds, compared with half of 401participants in their sixties. ^[9]
On average, 401participants in their twenties held about half of their 401plan account assets in target date funds, compared with about 23 percent for 401participants in their sixties. ^[9]
Among those with two or fewer years of tenure, 57 percent held target date funds, compared with 54 percent of participants with more than five to 10 years of tenure, and 36 percent of participants with more than 30 years of tenure. ^[9]
About threequarters of participants in their twenties had more than 80 percent of their 401plan accounts invested in equities at yearend 2018, up from less than half of participants in their twenties at year. ^[9]
In comparison, about 14 percent of participants in their sixties and 44 percent of 401plan participants overall had more than 80 percent of their 401plan accounts invested in equities at year. ^[9]
About 63 percent of 401assets were invested in stocs at year end 2018, through equity funds, the equity portion of balanced funds , and company stoc (the stoc of their employer). ^[9]
An additional 28 percent of 401assets were in fixedincome securities, such as stable value investments, bond funds, money funds, and the fixed income portion of balanced funds. ^[9]
Only 5 percent of 401plan assets were invested in company stoc at year. ^[9]
This share has fallen by 74 percent since 1999, when company stock accounted for 19 percent of assets. ^[9]
At the end of 2018, 19 percent of all 401participants who were eligible for loans had loans outstanding against their 401accounts, unchanged from 2016. ^[9]
The 2018 EBRI/ICI database includes statistical information on 14.6 million 401plan participants in 90,987 plans, which hold $1.1 trillion in assets, and covers 25 percent of the universe of active 401participants. ^[9]
The average annual 401savings rate for plan participants reached a new high of 9.3 percent of worers’ earnings this year, according to new research. ^[10]
Improved sentiment among 401savers was reflected in these survey findings The percentage of outstanding 401loans is at a record low. ^[10]
Less than 1 in 5 of plan participants had an outstanding loan from their 401in the second quarter of 2021, a record low. “. ^[10]
Only 5.3 percent of 401savers made a change to their asset allocation in the second quarter, the lowest percentage since the fourth quarter of 2019. ^[10]
Over the last year, more than 1 in 3 of. ^[10]
401savers increased their savings rate, the survey found, while 7 percent of worers decreased their savings rate. ^[10]
The average 401balance increased to $129,300 in the second quarter of this year, up 4 percent from the first quarter and an increase of 24 percent from a year ago, Fidelity reported. ^[10]
42%60%74% Planweighted participation rate* Automatic enrollment participant. ^[10]
Plans with automatic enrollment had a 92 percent participation rate, compared with a participation rate of 62 percent for plans with voluntary enrollment, he noted. ^[10]
Vanguard’s analysis, he noted, shows that last year Employees in plans using automatic enrollment saved an average of 10.7 percent of their annual salary, compared with 6.8 percent for those using voluntary enrollment. ^[10]
Employees who worked for firms with automatic enrollment saved over 50 percent more for retirement in 2020 than those employed at firms with voluntary enrollment. ^[10]
An examination of account records of more than 22 million DC plan participants found that in 2008, only 3.7 percent of participants stopped contributing to their accounts. ^[0]
In addition, most participants maintained their asset allocations, with 14.4 percent changing the asset allocation of their account balances and 12.4 percent changing their contribution investment mix. ^[0]
About 66 percent of 401plan assets were held in mutual funds as of the end of June 2021. ^[0]
Mutual fund assets held in retirement accounts plans) were $12.1 trillion as of the end of June 2021, or 47 percent of overall mutual fund assets. ^[0]
Fund assets in 401plans stood at $4.8 trillion, or 19 percent of total mutual fund assets as of June 30, 2021. ^[0]
On average, 401participants had 63 percent of their 401plan balances invested directly or indirectly in equity securities at year end 2018 in the EBRI/. ^[0]
That consisted of equity funds, including mutual funds and other pooled investments , employer’s company stock , and the equity portion of balanced funds. ^[0]
Components do not add to 100 percent because of rounding. ^[0]
At year end 2018, 75 percent of 401participants in their twenties held more than 80 percent of their account in equities, and about 13 percent held 20 percent or less. ^[0]
Of 401participants in their sixties, 14 percent held more than 80 percent of their account in equities, and 16 percent held 20 percent or less. ^[0]
database reveals that about 53 percent of 401participants were in plans that offered a loan option in 2018, and only 17 percent of those eligible for loans had loans outstanding. ^[0]
This represents about 10 percent of the participant’s remaining account balance. ^[0]
Loan ratios were higher for participants in their twenties and thirties and lower for participants in their fifties and sixties. ^[0]
In some recent analysis we did with the Center for Retirement Research at Boston College, we estimated that there are over 24 million forgotten 401accounts holding $1.35 trillion in assets, and another 2.8 million accounts left behind annually. ^[1]
Many 401accounts charge meaningful fees, but many of us don’t realize it; a recent survey found that 73% of people don’t now how much they pay in 401fees. ^[1]
Median 401plans in 2020 cost participants about 0.85% a year, though some plans were as high as 1.5%. ^[1]
Those robo accounts have returned almost 9% annually over the past three years , while popular S&P 500 ETFs have seen annualized returns of nearly 14% over the past 10 years. ^[1]
Giving users modern tools to understand their options and move their money is more liely to lead to informed decisions and fewer forgotten 401accounts. ^[1]
‘Buyers of a median price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.’. ^[1]
The 30 year mortgage rate dips slightly to 5.1%. ^[1]
About $1.35 trillion are in “forgotten” 401plans by more than 24 million participants, according to a recent study by Capitalize, a company that helps Americans roll over their employer. ^[11]
‘Buyers of a median price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.’. ^[11]
The 30 year mortgage rate dips slightly to 5.1%. ^[11]

I know you want to use 401(k) Software, thus we made this list of best 401(k) Software. We also wrote about how to learn 401(k) Software and how to install 401(k) Software. Recently we wrote how to uninstall 401(k) Software for newbie users. Don’t forgot to check latest 401(k) statistics of 2024.

Reference

ici – https://www.ici.org/faqs/faq/401k/faqs_401k.
marketwatch – https://www.marketwatch.com/story/americans-are-leaving-old-401-k-accounts-behind-and-paying-the-price-11627055031.
bls – https://www.bls.gov/opub/mlr/2015/article/automatic-enrollment-employer-match-rates-and-employee-compensation-in-401k-plans.htm.
morningstar – https://www.morningstar.com/articles/1000743/100-must-know-statistics-about-401k-plans.
forusall – https://blog.forusall.com/401k-statistics/.
cnbc – https://www.cnbc.com/2021/02/24/how-much-americans-have-saved-in-their-401k-by-age.html.
mit – https://direct.mit.edu/rest/article/93/3/748/57953/100-Bills-on-the-Sidewalk-Suboptimal-Investment-in.
myshortlister – https://www.myshortlister.com/insights/401k-statistics.
usatoday – https://www.usatoday.com/story/money/2019/09/01/data-tips-avoid-being-deceived/2094886001/.
ici – https://www.ici.org/news-release/21_news_tdf.
shrm – https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/rising-401k-contribution-rates-fewer-plan-loans-show-return-to-normal.aspx.
marketwatch – https://www.marketwatch.com/story/americans-have-lost-more-than-1-trillion-yes-trillion-to-old-forgotten-401-k-plans-11622829686.

How Useful is 401

One of the main benefits of a 401(k) plan is the ability for participants to make pre-tax contributions, which can help reduce their taxable income and potentially lower their tax bill. This tax advantage can be a major incentive for individuals to contribute to their 401(k) plan, as it allows them to grow their retirement savings more efficiently than with a traditional savings account or investment portfolio.

Additionally, many employers offer matching contributions to their employees’ 401(k) plans, which can further bolster retirement savings. These matching contributions can vary from company to company, but they essentially represent free money being added to the worker’s retirement savings. This matching can significantly increase the total amount saved for retirement over time, providing an even greater incentive for workers to participate in their 401(k) plan.

Another benefit of 401(k) plans is the ability for participants to invest their contributions in a variety of investment options. While some plans may limit investment choices to a select few funds, others offer a wide range of investment options, including stocks, bonds, and mutual funds. This flexibility allows participants to tailor their investment strategy to meet their individual financial goals and risk tolerance, providing a level of control over their retirement savings that is not possible with other retirement savings vehicles.

However, despite these benefits, there are also some potential drawbacks to 401(k) plans that individuals should be aware of. One potential downside is the vesting schedule for employer matching contributions, which can require participants to stay with the company for a certain amount of time before they are entitled to the full amount of the matched funds. This can be a deterrent for workers who may be considering changing jobs or retiring before they are fully vested in their employer’s contribution.

Additionally, 401(k) plans are subject to market fluctuations, which can impact the value of the investments within the plan. While diversified investment options can help mitigate risk, participants should be aware that their retirement savings may be subject to ups and downs in the market, which can affect their overall savings goals.

Overall, 401(k) plans can be a valuable tool for retirement savings, providing individuals with tax advantages, employer matching contributions, and investment flexibility. However, it is important for participants to understand the potential drawbacks of these plans and carefully consider their own financial situation and goals before committing to a 401(k) plan. By staying informed and actively managing their retirement savings, individuals can make the most of their 401(k) plan and work towards a secure financial future.

In Conclusion

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We tried our best to provide all the 401(k) statistics on this page. Please comment below and share your opinion if we missed any 401(k) statistics.

401(k) Statistics 2024 – Everything You Need to Know