Anyone who believes there's no retirement crisis in the U.S. now has a heap of new ammunition with which to defend the defined contribution system.
Account balances are increasing, nearly nine in 10 eligible workers had a retirement account in 2013, and eight in 10 actually contributed, according to the Plan Sponsor Council of America's just-out 57th Annual Survey of Profit Sharing and 401(k) Plans.
The results, based on data aggregated from 8 million plan participants in 613 plans with a combined $832 billion in assets, show that companies contributed an average of 4.7 percent of pay to their employees' plans in 2013. That's up from 4.5 percent in 2012, and a notable increase over the 4 percent in 2009.
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