Vanguard has released some , which covers the nearly 5 million 401k, 403b, and other retirement plans that Vanguard administrates. More stats in this .
Even though the average balance dropped by 20% in 2022, there wasn’t widespread panic or account changes. In fact, nearly 40% increased their deferral rate:
While average account balances decreased by 20% in 2022, primarily driven by negative market performance, participant behaviors mostly remained positive. Nearly 4 in 10 participants increased their deferral rate (either on their own or as part of an automatic annual increase), in line with previous years.
[…] And against a challenging market environment with increased volatility, only 6% of nonadvised participants traded, the lowest point in 20 years.
The table below goes into more detail. 50% of people kept their deferral rate the same, 24% of people allowed the auto-escalate feature to kick in, 15% manually increased their deferral rate, and 11% either manually decreased their deferral rate or set it to zero.
That means 89% of people kept their deferral rate the same or higher. 11% decreased. That 11% number is only a couple percentage points higher than in past years when the stock market went up.
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