401(k)s magnify inequality: Share of total retirement account savings and total income for families age 32–61 by income quintile, 2016
| Retirement account savings | Income | |
|---|---|---|
| 1st (Bottom) | 1% | 4% |
| 2nd (Lower-middle) | 4% | 7% |
| 3rd (Middle) | 8% | 12% |
| 4th (Upper-middle) | 17% | 18% |
| 5th (Top) | 70% | 59% |
Note: Based on "normal income," which may differ from actual income if a family's income in the past year was unusually high or low. Retirement account savings include funds in 401(k)-style defined contribution plans and in IRAs.
Source: EPI analysis of Survey of Consumer Finance data, 2016.