Investment Company Institute (ICI) November 2020 Research Report

Recently, the Investment Company Institute (ICI) released a report covering the first three quarters of 2020 defined contribution plan (e.g., 401k plans including solo 401k plans for the self-employed) activity.

Following is a breakdown of the key findings:

Distributions: There was an uptick in distribution in 2020 from 2019.  In the first three quarters of 2020, 3.4 percent of DC plan (e.g., full-time employer 401k plans including solo 401k plans. participants took withdrawals, compared with 3.3 percent in the first three quarters of

CRDs: 4.4% of retirement plan participants took a Coronavirus related distribution. 

The Most Popular Retirement Plans: In the second quarter of 2020,  28 percent of US retirement assets were defined contribution plans (e.g., full-time employer plans 401k plans and solo 401k plans). 

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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