Author Topic: 401(k) Statistics  (Read 3915 times)

Apples

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401(k) Statistics
« on: October 30, 2014, 06:57:17 AM »
I don't usually read GRS, but popped over there to see if they had anything interesting in the last few weeks.  This article from today is pretty cool!  I like to see all of the statistics about 401(k)s, especially at Vanguard.  I've only had one for 7 months and am not maxing it out, so I fall well below these numbers, but it's fascinating to me to see how much other people have and what percent they are contributing.

One example:

Quote
Average account balance: $89,300 (Fidelity) to $101,650 (Vanguard)

Metta

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Re: 401(k) Statistics
« Reply #1 on: October 30, 2014, 06:58:31 AM »
Is there a link? I am not sure what GRS is.

dude

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Re: 401(k) Statistics
« Reply #2 on: October 30, 2014, 07:08:07 AM »
I believe it's Get Rich Slowly.

Metta

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Re: 401(k) Statistics
« Reply #3 on: October 30, 2014, 07:21:56 AM »
I believe it's Get Rich Slowly.

Thanks!!

dude

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Re: 401(k) Statistics
« Reply #4 on: October 30, 2014, 07:43:08 AM »
It's always interesting to read these kind of stats to, as the author says, find out if you are "beating the Joneses."  As a Fed employee, I'm always interested to see the Federal Retirement Thrift Investment Bureau's (FRTIB -- the entity in charge of the TSP, fed employees'  401k equivalent) Annual Reports to Congress.  Back in 2011, they provided a really detailed picture of fed employees' balances by age, tenure and salary.  The most recent report, 2013, did not go into as much detail regarding balances, but did break down things like deferral rates and such, and did provide info on average balance, age and tenure.  The reports can be found here:

http://www.frtib.gov/ReadingRoom.html

They also provide monthly updates on average balances and what percentage of employees' money is invested in which particular fund options, from their Monthly Meeting Minutes:

http://www.frtib.gov/MeetingMinutes.html


Fuzzy Buttons

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Re: 401(k) Statistics
« Reply #5 on: October 30, 2014, 08:21:43 AM »
If you're really in a nosy mood and have a company 401(k) plan, you can always go right to the Department of Labor's form 5500 search database here.  This contains the public information every company must file about their retirement plans.  From this I've been able to find about my own company:
  • Total Balance and Active Participants - giving an average per person
  • Total annual contributions - same thing
  • Administrative fees charged
  • How much money is allocated in each fund
  • How much in loans is outstanding
Turns out the .07% ER index fund is the most popular one at my company.  Good for them.  :)

sirdoug007

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Re: 401(k) Statistics
« Reply #6 on: October 30, 2014, 08:54:20 AM »
Those 5500 forms are a great resource.  Thanks! 

Much more detailed than the disclosure my company has on the internal website.

There is WAY too much money in my companies money market fund (making 0.01%)!  Also our total administrative costs were around $11,000 on a $28MM plan or 0.04%.  Not bad at all.

trailrated

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Re: 401(k) Statistics
« Reply #7 on: October 30, 2014, 09:30:16 AM »
If you're really in a nosy mood and have a company 401(k) plan, you can always go right to the Department of Labor's form 5500 search database here.  This contains the public information every company must file about their retirement plans.  From this I've been able to find about my own company:
  • Total Balance and Active Participants - giving an average per person
  • Total annual contributions - same thing
  • Administrative fees charged
  • How much money is allocated in each fund
  • How much in loans is outstanding
Turns out the .07% ER index fund is the most popular one at my company.  Good for them.  :)

This is crazy! Thank you for the share, after talking to 3 ee's at my company I think they make up about 60% of the plans value.
"What matters most is how well you walk through the fire. "

Middlesbrough

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Re: 401(k) Statistics
« Reply #8 on: October 30, 2014, 09:59:11 AM »
If you're really in a nosy mood and have a company 401(k) plan, you can always go right to the Department of Labor's form 5500 search database here.  This contains the public information every company must file about their retirement plans.  From this I've been able to find about my own company:
  • Total Balance and Active Participants - giving an average per person
  • Total annual contributions - same thing
  • Administrative fees charged
  • How much money is allocated in each fund
  • How much in loans is outstanding
Turns out the .07% ER index fund is the most popular one at my company.  Good for them.  :)
Thanks! I think I just found fun for hours!

JetBlast

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Re: 401(k) Statistics
« Reply #9 on: October 30, 2014, 03:26:28 PM »
Interesting reading. Took a look at my company's plan at the end of last year and how everyone is investing. Not a lot of bogleheads.

Active management equity or balanced funds:  47.4%
Target date funds (~.51% expense ratio):  23.3%
Equity index funds(S&P 500, S&P 400, Russel 2000):  9.8%
Money market fund: 9.0%
Bond funds (Pimco total return & Vanguard intermediate treasuries):  5.7%
Company stock (likely lower now since stock is way down):  1.4%
Last but not least.....401k loans:  3.4%
That's over $15 million borrowed from 401k accounts. Oy Vey!

Apples

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Re: 401(k) Statistics
« Reply #10 on: October 30, 2014, 04:06:30 PM »
I believe it's Get Rich Slowly.

Thanks!!

Sorry Metta (and everyone else!).  I hate when people talk about an article without links....and now I went and did it.  Dude, you're right about it being Get Rich Slowly.  Here's a link if you're interested:

http://www.getrichslowly.org/blog/2014/10/30/is-your-401k-keeping-up-with-the-joneses/

I'm in a small company with only 6 employees in the 401(k) and with low salaries, so I don't have a good base of comparison where I work.  I like to see some national statistics!  Huge thank you to Fuzzy Buttons and dude for more links-I'm off to go check them out.