A new report on retirement savings paints a worrisome picture: Fewer workers are saving, and only top earners are increasing their contributions from year to year.
The analysis, released Nov. 18 by the human capital management company Dayforce, draws on more than 1 million anonymized records for workers from 2021 through 2024. It is titled The Retirement Divide.
Much available data on retirement savings comes from individual investment firms and focuses only on their clients. This analysis covers the entire full-time workforce. The report says it represents “the fullest picture to date of the true state of retirement security in America.”
The findings show many American workers losing ground on retirement savings between 2021 and 2024, a span marked by rising inflation and interest rates, dwindling savings and mounting debt.
The share of full-time workers participating in retirement savings plans dipped from 79.4% in 2021 to 78.7% in 2024, the analysis found.
