Our 2022 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 100 plans covering more than three million eligible participants. It highlights the most common benchmarking statistics, including plan participation rates, savings rates, balances, investment and trading activity and distributions from accounts (e.g. loans, withdrawals, cash-outs and rollovers).
Last year, as participants adjusted to a new normal post-pandemic, workers remained steadfast in saving for retirement. Our data revealed that the average defined contribution (DC) plan balance hit an all-time high of $144,280 at the end of 2021, up 10% from 2020. Median plan balances also increased, from $28,426 to $29,607, another record high. Despite these improvements, employers are determined to do more to help workers improve their retirement readiness.
See the highlights below and download the full report for detailed insights on workers’ behaviors in DC plans.