The economy's improvement has changed the top reason people give for not saving for retirement — but that doesn't necessarily mean there's cause for celebration, because the new reason is given by even more people.

The No. 1 reason people gave in 2012 for not contributing to a defined contribution plan, according to Deloitte's 13th Annual Defined Contribution Benchmarking Survey, was an "uncertain economy/job market"— cited by 24 percent of respondents.

That's no longer the case, and in fact average account balances are now at an all-time high of more than $95,000. That's an increase from $85,600 in 2012. Also there's good news in that the number of employees participating in defined contribution plans has increased, rising 6 percentage points (77 percent in 2013 vs. 71 percent in 2012).

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.