How America Saves 2025

Vanguard

Jeffrey Clark

Research

112 Pages

Vanguard analyzes how participants actually save and invest inside defined contribution retirement plans across a large recordkeeping base. The report examines the impact of automatic features, target date and advisory solutions, and plan menu design on outcomes for different worker groups. It also identifies areas where financial stress, low savings and withdrawal patterns still challenge retirement readiness.

Date published: June 2025

Key Takeaways

Power of default design: Shows that automatic enrollment, escalation and diversified defaults strongly influence long term saving behavior.
Participant behavior patterns: Describes how contribution levels, investment choices and trading differ across ages, incomes and industries.
Guidance for sponsors: Encourages refining defaults, communication and distribution options to support more durable retirement outcomes.
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