401(k)/IRA Holdings in 2013: An Update from the SCF

Alicia Munnell

Issues in Brief from Center for Retirement Research

Abstract: The brief’s key findings are: *The Federal Reserve’s 2013 Survey of Consumer Finances provides an opportunity to examine trends in retirement savings over the past few years. *The good news is increased use of target date funds; the bad news is no improvement in participation rates, significant leakages, and high fees. *Surprisingly, for working households nearing retirement, median combined 401(k)/IRA balances actually fell from $120,000 in 2010 to $111,000 in 2013. *Younger households did see rising balances but retirement savings levels are clearly inadequate, and about half of all households have no 401(k) assets at all.

Pages: 15 pages
Date: 2014-09
New Economics Papers: this item is included in nep-age
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