Investors stuck with their retirement savings plans in 2010, according to the Investment Company Institute, basing its findings on data from more than 23 million defined contribution accounts.
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Only 2.4% of participants stopped contributing to their accounts in 2010, compared with 3.4% in 2009. The findings were released Tuesday.
And participants did not tap into their accounts. Only 3.5% of participants took withdrawals in 2010, with 1.7% hardship withdrawals. This was in line with the 3.1% who took withdrawals and 1.6% hardship withdrawals in 2009. Outstanding loans, however, rose to 18.2% last year, from 16.5% at yearend 2009.
Most investors stayed the course with their investments, with just 10% reallocating their investments last year.
