chart with 403(b) word on it (Photo: Shutterstock)

Nonprofit companies are seeing some signs of a decrease in retirement savings, after participant rates hit an all-time high for retirement savings plans in 2021, a new survey of employers has found.

The new research, released by the Plan Sponsor Council of America (PSCA) and sponsored by Principal Financial Group, has both good news and bad: retirement savings and employee financial wellness education has gone up, but concerns about inflation threaten to hold back further growth. The PSCA report found that nearly 20% of 403(b) plan sponsors in the survey saw a decrease in deferral rates after a record high rate of saving (6.9% of pay) in 2021. The analysis attributed the decrease to concerns about inflation and higher costs of living.

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