Nearly 90% of employees kept their 401(k) and 403(b) contribution rates constant in the third quarter, according to Fidelity Investments' quarterly Building Financial Futures report that's based on corporate and non-profit defined contribution plan data. About 8% increased their saving rates.
Less than 1% stopped making contributions.
There has been an increasing trend towards auto enrollment, with more than 37% of employees offering the option, up from 31% in 2017. Similarly, there's been a nearly 500-basis-point increase in making target-date funds the default option, with more than 93% doing so. More than three-quarters of plans provide a Roth option, up from 61% five years ago.
