401(k)s are a negligible source of income for seniors: Average annual 401(k) and pension income for Americans age 65 and older by income quintile, 2014
| Distributions from 401(k)s, IRAs and similar accounts | Pension benefits | |
|---|---|---|
| Bottom 20% | $35 | $95 |
| Second 20% | $77 | $422 |
| Middle 20% | $273 | $2,116 |
| Fourth 20% | $950 | $8,105 |
| Top 20% | $3,251 | $18,527 |
Source: EPI analysis of 2015 Current Population Survey Annual Social and Economic Supplement microdata (IPUMS-CPS, University of Minnesota, www.ipums.org). Pension income includes survivor benefits. Amounts shown slightly understate total amounts reported due to top-coding of high incomes for privacy reasons and because only the top two sources of retirement income and survivor benefits are identified (Social Security and veterans benefits are reported separately).