DC Plan Investors Stayed the Course in the First Nine Months of 2017
Only 2.4% discontinued contributions, a mere 2.8% took withdrawals and just 1.3% took hardship withdrawals, ICI data show
In the first three quarters of 2017, defined contribution (DC) plan investors stayed the course, the Investment Company Institute (ICI) found through an analysis of recordkeeper data covering more than 30 million participant accounts.
Only 2.4% of DC plan participants stopped contributing to their plans in the first nine months of 2017, the same percentage as in the first nine months of 2016.
Just 2.8% of participants took withdrawals from their plans, the same percentage as in the first nine months of 2016. A mere 1.3% took hardship withdrawals in the first nine months of 2017, up slightly from 1.2% who took such withdrawals in the same timeframe in 2016.
In the first nine months of 2017, 16.7% of DC plan participants had outstanding loans, down slightly from 17.0% at the end of September 2016.
ICI’s full report, Defined Contribution Plan Participants’ Activities, First Three Quarters of 2017, can be downloaded here.
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