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April 12, 2010

What Was the Average Employee 401k Contribution for 2009?

Filed under: General HR Buzz — Tags: 2:17 pm

A. 2.74%                B.  4.36%
C. 6.86%               D. 5.11%

According to the HR consultant Mercer, the average 2009 employee contribution was 6.86%.   That had declined from the average 2007 contribution of 7.46%.   As might be expected, those 55 and older contributed more, 8.86% and those under 30, less at 4.04%.   At the end of 2009, 31% of participants had account balances below 2007 levels.  Those 55 and over, with larger account balances were hurt the most.

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