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Retiree behaviors in defined-contribution plans

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  • $4.1 trillion – Amount held in defined-contribution plans as of year-end 2009.
  • $4.2 trillion – Amount held in IRAs as of year-end 2009.
  • 70% – Percentage of retirees with multiple distribution options for a DC plan in 2007.
  • 46% – Percentage of retirees who received advice from a partner or spouse; 42 percent turned to a financial advisor.
  • 88% – Percentage of retirees who had a choice to receive a lump sum from their DC plan; 61 percent chose a full or partial distribution.
  • 65% – Percentage of retirees who said an annuity was an option for their DC plan; 32 percent chose to annuitize their distributions.

Source: Investment Company Institute