The behavior of retirement plan participants "remained largely unaffected" during the tumultuous first four months of 2020 despite greater market turmoil and financial uncertainty, Vanguard Group said Wednesday.
"Participants remained unflappable and focused throughout the recent market volatility," said Martha King, managing director and head of Vanguard Institutional Investor Group, in a news release.
As of March 31, Vanguard had more than $1.3 trillion in defined contribution assets under management in 1,800 plans that covered 5 million participants.
"Participation and deferral rates have remained steady during the first four months of 2020," according to a supplement to Vanguard's annual "How America Saves" report, covering actions by participants and sponsors for which Vanguard serves as a record keeper.
"While trading increased during the first four months of 2020," the supplemental report said, "95% of participants did not make an exchange. Importantly, less than 1% panicked and abandoned equities."