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401(k)/IRA Holdings in 2013: An Update from the SCF

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  • Alicia H. Munnell

Abstract

The brief’s key findings are: *The Federal Reserve’s 2013 Survey of Consumer Finances provides an opportunity to examine trends in retirement savings over the past few years. *The good news is increased use of target date funds; the bad news is no improvement in participation rates, significant leakages, and high fees. *Surprisingly, for working households nearing retirement, median combined 401(k)/IRA balances actually fell from $120,000 in 2010 to $111,000 in 2013. *Younger households did see rising balances but retirement savings levels are clearly inadequate, and about half of all households have no 401(k) assets at all.

Suggested Citation

  • Alicia H. Munnell, 2014. "401(k)/IRA Holdings in 2013: An Update from the SCF," Issues in Brief ib2014-15, Center for Retirement Research.
    • Handle: RePEc:crr:issbrf:ib2014-15
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    File URL: http://crr.bc.edu/briefs/the-financial-status-of-private-sector-multiemployer-pension-plans/
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    Cited by:

    1. Joseph F. Quinn & Kevin E. Cahill, 2015. "The New World of Retirement Income Security in America," Boston College Working Papers in Economics 887, Boston College Department of Economics.

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