RESEARCH |

2022
Participant Survey

The survey examines the attitudes and behaviors of American workers participating—or not—in an employer-sponsored retirement plan.

Reported by PLANSPONSOR | Art by Miriam Martincic
Participant Survey art by Miriam Martincic
Current Savings and Plan Access
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Current Savings and Plan Access

Employer Contributions to DC Plan Accounts

Match
69.1%
Fixed/profit sharing
15.1%
Both match and fixed
5.9%
No employer contribution
5.7%
Employer contribution suspended
1.4%
Unsure
2.7%

Contribution/Saving Rate

< 5%
50.7%
5.1% – 7.0%
17.6%
7.1% – 10.0%
14.9%
>10%
14.2%
Unsure
2.7%

How Current Contribution/Savings Rate Determined

Accepted the default
37.5%
Wanted to receive maximum employer contribution
27.8%
Save maximum allowable by law
11.1%
Targeted a specific level of savings
11.5%
Received advice from spouse/friend/adviser
3.9%
Automatically increased to the current level
3.0%
Unsure
5.3%

Actions Taken in Prior 12 Months to Retirement Savings Plan

Increased deferral rate
44.8%
Decreased deferral rate (but not to $0)
10.3%
Changed investment allocation
14.7%
Re-balanced account
14.7%
Calculated retirement savings needs
10.9%
Stopped contributing to the plan
7.5%
No actions taken
31.3%