Retirement Savings Gap Persists for Non-Salaried Workers

Non-salaried workers, such as hourly and gig workers, face a significant disparity in employee-sponsored retirement plan (ESRP) mean account values compared to salaried workers. According to a new report, hourly workers report an average of $123,000 in ESRP assets, while gig workers report $176,000, and their salaried counterparts report $222,000. This gap highlights a need for increased education and guidance for non-salaried workers as legislative efforts to expand access to retirement plans continue to gain momentum. The report aims to help DC plan providers maximize participant contributions, enhance engagement, and attract rollover dollars.

Key Takeaways:

Non-salaried workers, including hourly and gig workers, have significantly lower ESRP mean account values compared to salaried workers, with $123,000 and $176,000, respectively, compared to $222,000 for salaried workers.
Non-salaried workers are more fearful of losing money, with 52% of hourly workers and 51% of gig workers reporting fear, compared to 46% of salaried employees.
Only 35% of hourly workers expressed feeling confident in their ability to achieve their stated retirement goals, compared to 41% of salaried and 42% of gig workers.
Gig workers reported personalized savings projections/targets, automatic contribution escalation with opt-outs, and enhanced digital capabilities as influential ways of boosting their current contribution levels.
Salaried and gig workers are more receptive to complimentary and fee-based employer-sponsored investment advice, citing access to employer-sponsored advice models, investment guidance during market volatility, and holistic planning outside DC plans as key benefits.
Hourly workers emphasized the advantages of having help determining how to invest their money within their retirement plan and having reduced stress from managing their finances alone.

Statistics:

Hourly workers reported an average of $123,000 in ESRP assets.
Gig workers reported an average of $176,000 in ESRP assets.
Salaried workers reported an average of $222,000 in ESRP assets.
52% of hourly workers reported fear of losing money.
51% of gig workers reported fear of losing money.
46% of salaried employees reported fear of losing money.
35% of hourly workers felt confident in their ability to achieve their stated retirement goals.
41% of salaried workers felt confident in their ability to achieve their stated retirement goals.
42% of gig workers felt confident in their ability to achieve their stated retirement goals.

Sources:

"DC Participant Planscape" report by Cogent Syndicated, a division of Escalent, conducted an online survey of 4,012 DC plan participants from June 11 to June 27, 2025.
Escalent, an award-winning data analytics and advisory firm specializing in industries facing disruption and business transformation.
US Census data used for survey participant targeting.