How America Saves 2024

Vanguard

Research

114 Pages

This annual report provides data-driven insights into the saving behaviors and retirement plan participation trends of 5 million participants across 1,800 plans administered by Vanguard. The 2024 edition highlights continued progress in retirement readiness driven by automatic features and target-date fund adoption.

Key Takeaways

Auto-enrollment boosts savings: 59% of plans use automatic enrollment, leading to a 93% participation rate vs. 70% in voluntary enrollment plans
Target-date funds dominate: 84% of participants use a target-date fund, simplifying investment decisions and encouraging long-term investing
Participant savings rise: The average total savings rate (employee + employer) reached 11.7%, reflecting steady increases in contributions and employer match generosity
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