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[IWS] EBRI: CHANGE IN AVERAGE [401 (K)] ACCOUNT BALANCES (BY AGE AND TENURE [1 November 2013]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
Employee Benefit Research Institute (EBRI)
(1) Change In Average Account Balances (by Age and Tenure) From January 1, 2012 – November 1, 2013 Among Consistent 401(k) Participants with Account Balances as of December 31, 2011
(2) Monthly Change In Average Account Balances (by Age and Tenure) for October 2013 Among Consistent 401(k) Participants with Account Balances as of December 31, 2011
Change In Average Account Balances (by Age and Tenure)
The EBRI/ICI Participant-Directed Retirement Plan Data Collection Project is the largest, most representative repository of information about individual 401(k) plan participant accounts. As of December 31, 2010, the EBRI/ICI database included statistical information about 23.4 million 401(k) plan participants, in 64,455 employer-sponsored 401(k) plans, representing $1.414 trillion in assets.
The EBRI/ICI project is unique because it includes data provided by a wide variety of plan recordkeepers and, therefore, portrays the activity of participants in 401(k) plans of varying sizes-from very large corporations to small businesses-with a variety of investment options.
Using that database, which includes demographic, contribution, asset allocation, and loan and withdrawal activity information for millions of participants, EBRI has produced estimates of the cumulative changes in account balances - both as a result of contributions and investment returns - for several combinations of participant age and tenure.
In the first column ("Cumulative Change"), a projected cumulative percentage change in account balances since the annual update of the database is presented, based on individual rates of contribution and the investment choices in place at that point in time.
The second column ("Monthly Change") presents the monthly rate of change in average account balances for that same database.
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