Participants in employer-based retirement plans are showing no signs of panic in the face of a market downturn, Massachusetts Mutual Life Insurance Company finds.
MassMutual’s retirement services division looked at data for the second quarter for participants in retirement plans it administers and found 96% of them either maintained or increased their savings rates.
Despite a decline in the prices on the S&P 500 Index of 11.4% in the quarter, average balances fell by only 3.26% in accounts it managed, reports MassMutual, Springfield, Mass.