401k Assets $1.26 Trillion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 265,251
2. Active 401k Participants: 33,633,000
3. Total 401k Assets: $1.26 trillion
4. 401k Contributions: $115.7 billion
5. 401k Benefit Payments: $93.0 billion

Michigan Requires New Hires to Go Into 401k Retirement System

Michigan becomes the first state to move away from standard defined benefit government pensions by providing a 401k retirement plan for new hires. The plan is mandatory for new state employees hired on or after March 31, 1997. The 401k Defined Contribution plan is also an option for current state employees who are members of the existing retirement systems or for those who are former employees who are re-hired.

401k Assets Surpass $1.0 Trillion for First Time

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 230,808
2. Active 401k Participants: 30,643,000
3. Total 401k Assets: $1.06 trillion
4. 401k Contributions: $103.9 billion
5. 401k Benefit Payments: $78.5 billion

401k Assets Total $864 Billion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 200,813
2. Active 401k Participants: 27,759,000
3. Total 401k Assets: $863.9 billion
4. 401k Contributions: $87.4 billion
5. 401k Benefit Payments: $62.2 billion

401k Assets Reach $675 Billion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 174,945
2. Active 401k Participants: 25,062,000
4. Total 401k Assets: $674.7 billion
5. 401k Contributions: $75.88 billion
6. 401k Benefit Payments: $50.66 billion

401K Assets Total $616 Billion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 154,527
2. Active 401k Participants: 23,015,000
3. Total 401k Assets: $616.3 billion
4. 401k Contributions: $69.3 billion
5. 401k Benefit Payments: $44.2 billion

20% Mandatory Withholding on Lump Sum Distributions

The Unemployment Compensation Amendments of 1992 imposed a 20 percent mandatory withholding tax
on lump-sum distributions that are not rolled over into another qualified retirement plan, annuity, or individual
retirement account (IRA); liberalized rollover rules; and required plan sponsors to transfer eligible distributions
directly to an eligible plan if requested by the participant. ¹

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Notes:

1. Source: EBRI, History of 401k Plans: An Update [↩]

401k Assets Grow to $553 Billion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 139,704
2. Active 401k Participants: 22,293,000
3. Total 401k Assets: $552.9 billion
4. 401k Contributions: $64.3 billion
5. 401k Benefit Payments: $43.2 billion

401k Assets $440 Billion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 111,394
2. Active 401k Participants: 19,039,000
3. Total 401k Assets: $440.3 billion
4. 401k Contributions: $51.5 billion
5. 401k Benefit Payments: $32.7 billion

401k Assets at $385 Billion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

1. Number of 401k Plans: 97,614
2. Active 401k Participants: 19,466,000
3. Total 401k Assets: $384.9 billion
4. 401k Contributions: $49.0 billion
5. 401k Benefit Payments: $32.0 billion

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