Defined contribution plan contributions, withdrawals in line with 2012: SurveyReprints
Defined contribution plan participants are continuing to contribute to their plans, while plan withdrawals remained low, according to a survey from the Investment Company Institute.
The annual survey of DC plan record keepers shows that only 2.7% of DC plan participants stopped contributing to their plans in 2013, up slightly from 2.6% in 2012, while only 3.5% of DC plan participants took withdrawals in 2013, up slightly from 3.4% in 2012.
In 2013, 10.7% of participants changed account balance asset allocations, up from 9.7% the previous year, while 7.4% of participants changed their contribution asset allocations, up from 6.6% in 2012, according to ICI.
The survey covered 24 million DC plan participants.
Rob Kozlowski writes for Pensions & Investments, a sister publication of Business Insurance.