GITNUX MARKETDATA REPORT 2024

Must-Know 401k Statistics [Recent Analysis]

Statistic 1

"As of 2020, about 58 million American workers were active 401(k) participants."

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Statistic 2

"In 2020, the total assets in 401(k) plans reached $6.7 trillion."

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Statistic 3

"In 2021, the average 401(k) balance reached a record high of $129,300."

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Statistic 4

"The average annualized 401(k) return for the 10 years ending December 31, 2020, was 11.4%."

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Statistic 5

"About 80% of 401(k) participants had access to a target-date fund option in 2020."

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Statistic 6

"In 2020, 36% of 401(k) participants had all of their assets invested in target-date funds."

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Statistic 7

"Only 46% of Generation Z workers have access to a 401(k) plan through their employer."

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Statistic 8

"Around 75% of eligible employees participate in their employer-sponsored 401(k) plan."

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Statistic 9

"In 2018, the average 401(k) participant contributed 6.2% of their salary to their 401(k) plan."

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Statistic 10

"Approximately 84% of 401(k) plans offer an employer match."

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Statistic 11

"As of 2021, only 3% of 401(k) plans offer a cryptocurrency investment option."

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Statistic 12

"In 2020, 28.1% of participants in 401(k) plans had a loan outstanding against their account."

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Statistic 13

"Around 30% of people who leave their jobs cash out their 401(k) accounts, which can lead to substantial taxes and penalties."

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Statistic 14

"As of 2020, only 2.2% of 401(k) plans offer a student loan repayment benefit."

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Statistic 15

"In 2020, 401(k) contribution limits reached $19,500 for those under 50 and $26,000 for those 50 and older."

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Statistic 16

"About 32% of U.S. households reported having a 401(k)-type retirement account in 2019."

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Statistic 17

"Small businesses represent a large portion of the 401(k) market with 87% of plans having fewer than 100 participants."

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Statistic 18

"In 2020, the average 401(k) account for women held $81,700, compared to $62,280 in 2010."

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Statistic 19

"As of 2020, only 8% of U.S. employers automatically enroll employees in a 401(k) plan upon joining the company."

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