Most Retirement Savers Held Fast in Q1: ICI

There was also a slowing of changing asset allocations, the DC record-keeping data found. While 4.7% of investors in DC plans changed asset allocations in Q1 2022, this is down from 5.5% in Q1 2020 and 6.2% in Q1 2021. It is up, however, from 2019, in which 4.2% changed asset allocations.

Also, fewer investors were changing their DC plan contribution rates, according to the ICI study. In Q1 2022, 3.0% changed the rate, whereas that number 4.1% did so in Q1 2020 and 3.9% did in Q1 2021. This is up slightly from 2.9% in 2019.

As a comparison, all these values were below 2009 levels, especially with DC plan contribution level changes, in which 7.3% of DC plan investors made changes back then.

“Even as stock values declined at the start of 2022, DC plan participants generally stayed the course and refrained from changing asset allocations,” said Sarah Holden, ICI senior director of retirement and investor research, in a statement. “Furthermore, the data suggest that through the first quarter of 2022, retirement savers continued contributing to DC plans.”