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Building Savings and Retirement Security in the Wake of Crisis
Investment Company Institute [ICI] Link to more items from this source
Sept. 18, 2015

"[T]he 401(k) system has gaps and deficiencies that need to be addressed ... But on the whole, Americans' preparedness for retirement is better today than it has ever been before.... Retirement assets per household at the end of 2014 were more than seven times greater than they were in 1975, even after adjusting for inflation. Today's households enjoy significantly greater assets earmarked for retirement than their counterparts did when defined benefit plans were much more prevalent.... In 2013, 33 percent of retirees received income from private-sector retirement plans -- up by more than half from 1975. And the median income received by those retirees, in constant dollars, has risen by more than one-third.... The 'slow and steady' design of 401(k) plans helps limit the impact of investment shocks. 401(k)s tend to suppress the sort of bad investor behavior -- such as trying to time the market -- that can really damage long-term returns."

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