Average 401(k) investors are contributing 6.8% of their before-tax salaries to retirement accounts, according the latest data provided by an ongoing joint research project conducted by two well-known industry groups.
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The ICI and EBRI also found that total contributions increase when employers contribute matching funds to accounts. The data show that workers kick an average of 10% of their salaries into 401(k) plans when employers match a portion of those contributions, while compared with 7.4% in plans where employers contribute nothing.
The results will be published this month in publications from both organizations.