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Retirement plan sponsors’ widespread embrace of smart plan design helped lead to new retirement savings records in 2021 despite prominent headwinds, according to How America Saves 2022, a Vanguard report released in June that examines retirement plan data from 5 million defined contribution plan participants across Vanguard’s recordkeeping business.

“We saw record-high participation and deferral rates as well as a higher percentage of participants in target-date funds and advised solutions such as managed accounts than ever before,” said John James, managing director, institutional investment group, Vanguard.

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