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A Study of the American System of Savings Plans and How Savers Are Using Them
Pamela J. Perun, Women's Institute for a Secure Retirement [WISER] via SSRN 
May 31, 2007 41 pages; from 2006. Excerpt: The profile of savings plan contributors is remarkably consistent across all plans: most are employed, earning in the top-half of the income distribution, middle-aged, married, and educated. Account sizes vary widely with an average size in a 529 plan of $9,700, about $57,000 in a 401(k) plan, and $45,000 in the Thrift Savings Plan. Median account sizes in 401(k) plans were about $20,000, traditional IRAs held $24,000, and Roth IRAs held less than $9,000. MORE >> |
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