Median 401(k) Balances Rose to $144,000 in 2019
401(k)/IRA Holdings in 2019: An Update from the SCF
The brief’s key findings are:
- The 2019 Survey of Consumer Finances offers a picture of households’ 401(k)/IRA assets after a period of strong economic growth and stock market gains.
- And these balances may not differ much from today, as the market is modestly higher in 2020 and most job losses have been borne by those without a 401(k).
- For working households nearing retirement with a 401(k), median combined 401(k)/IRA balances rose from $135,000 in 2016 to $144,000 in 2019.
- $144,000 provides a married couple with only $570 per month in retirement.
- The bigger problem is that only half of households have any 401(k)-related assets.
- The main reason for low savings is the lack of continuous coverage, so the solution is for policymakers to mandate coverage for all workers.
Read 401(k)/IRA Holdings in 2019: An Update from the SCF and What Does Consistent Participation in 401(k) Plans Generate? Changes in 401(k) Plan Account Balances, 2010–2018
Older Americans 2020: Key Indicators of Well-Being
A periodic Chartbook prepared by the Federal Interagency Forum (Forum) on Aging-Related Statistics, provides a comprehensive, easy-to-understand picture of our older population. Readers will find here an accessible compendium of indicators drawn from the most reliable official statistics. Indicators are categorized into six broad groups: Population, Economics, Health Status, Health Risks and Behaviors, Health Care, and Environment.
Read Older Americans 2020: Key Indicators of Well-Being
Other retirement research of interest:
Retirement Security: Other Countries’ Experiences with Caregiver Policies
Vietnam Veterans’ Income in Retirement
ESG Investing and Public Pensions: An Update
Deaths in the care sector, England and Wales: 2019
Pension Freedoms: a qualitative research study of individuals’ decumulation journeys
Medicare Part D: A First Look at Medicare Prescription Drug Plans in 2021
Long term outcomes for elderly patients after emergency intensive care admission: A cohort study
Public Policy and Aging Report
Differences in Characteristics of Adult Day Services Centers, by Level of Medical Service Provision
The pandemic’s effect on the widening gap in mortality rate between the U.S. and peer countries
Racial and Ethnic Disparities in COVID-19 Cases and Deaths in Nursing Homes
The Demography of Loneliness at Older Ages
Close social networks among older adults: the online and offline perspectives
Medicare and Home Health: Taking Stock in the COVID-19 Era
Policies for an Aging Labor Force: Keeping Older Workers with Health Conditions Employed
The Dynamics of Ageing: Evidence from the English Longitudinal Study of Ageing 2002-2019 (Wave 9)
The state of health care and adult social care in England 2019/20
De-Mystifying Data: How Medicare Data Can Support Medicaid Agencies
AARP Nursing Home COVID-19 Dashboard
Moneyball in Medicare: Heterogeneous Treatment Effects
2020 Public Plan Investment Update and COVID-19 Market Volatility
A retirement dashboard for the United States
Financial Literacy and Financial Decision-making at Older Ages
How Can Policymakers Close the Racial Gap in Retirement Security?
Five Democratic Approaches to Social Security Reform: Estimated Impact of Plans from the 2020
One in Four Older Adults Report Anxiety or Depression Amid the COVID-19 Pandemic
Medicare Accelerated and Advance Payments for COVID-19 Revenue Loss: More Time to Repay
COVID-19’s Impact on Older Workers: Employment, Income, and Medicare Spending
Analysis of Benefit Estimates Shown in the Social Security Statement
SSI Recipients by State and County, 2019
SSI Monthly Statistics, September 2020
Decoding the mystery of American pain reveals a warning for the future
Health of Elderly Parents, Their Children’s Labor Supply, and the Role of Migrant Care Workers
How Would Joe Biden Reform Social Security and Supplemental Security Income?
Liberal State Policies Improve Life Expectancy
Asset-Rich and Cash-Poor: Which Older Adults Value Reverse Mortgages?
A data-driven prospective study of dementia among older adults in the United States
401(k)/IRA Holdings in 2019: An Update from the SCF
The brief’s key findings are:
- The 2019 Survey of Consumer Finances offers a picture of households’ 401(k)/IRA assets after a period of strong economic growth and stock market gains.
- And these balances may not differ much from today, as the market is modestly higher in 2020 and most job losses have been borne by those without a 401(k).
- For working households nearing retirement with a 401(k), median combined 401(k)/IRA balances rose from $135,000 in 2016 to $144,000 in 2019.
- $144,000 provides a married couple with only $570 per month in retirement.
- The bigger problem is that only half of households have any 401(k)-related assets.
- The main reason for low savings is the lack of continuous coverage, so the solution is for policymakers to mandate coverage for all workers.
