401(k)/IRA holdings in 2016

Munnell, Alicia Haydock, and Anqi Chen. “401(k)/IRA holdings in 2016”. Issue in Brief 17-18, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, October 2017. http://hdl.handle.net/2345/bc-ir:107617.
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Abstract

The brief's key findings are: (1) The Federal Reserve's 2016 Survey of Consumer Finances offers an opportunity to examine households' holdings in 401(k)s and IRAs. (2) For working households nearing retirement with a 401(k), median combined 401(k)/IRA balances rose from $111,000 in 2013 to $135,000 in 2016. (3) While growing balances are encouraging, $135,000 provides only $600 per month in retirement, so current saving levels are still falling short. (4) Moreover, about half of households nearing retirement have no 401(k) assets at all, so lack of access to a plan remains an enormous problem.

Title
401(k)/IRA holdings in 2016: An update from the SCF
Author
Munnell, Alicia Haydock
Chen, Anqi
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
October 2017
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
17-18
Persistent Link
http://hdl.handle.net/2345/bc-ir:107617
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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