How America Saves Lives 2023

Vanguard

Research

115 Pages

Vanguard analyzes how Americans save for retirement through defined contribution plans using detailed data from its recordkeeping platform. The study tracks plan design, contributions, balances, investments, loans, and withdrawals, and documents participation near 85% with rising use of professional portfolio management. Vanguard notes resilience in participant behavior through a volatile twenty twenty two as participation and savings metrics hold near record levels.

Date published: June 2023

Key Takeaways

DC plan snapshot: Focuses on large employer defined contribution plans and benchmarks participation, savings, balances, and investment choices over time.
Automatic design impact: Shows auto enrollment and auto escalation raise participation and savings compared with voluntary enrollment structures.
Participant behavior patterns: Details how investors use target date funds, advice, loans, and withdrawals to manage risk and access retirement savings.
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