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Plan Participants and Solopreneurs Focus on the Impacts of a Possible Recession, Inflation, and Low Investment Returns for 401(k)s in 20231

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
January 12, 2023 GMT


Ubiquity Retirement + Savings® (Ubiquity) announces the results of its first “State of the Industry” independent survey, which polled over 600 plan participants and solo 401(k) users about retirement concerns for 2023.

The survey found inflation concerns are top of mind for 54.8% of plan participants and 58.1% of solo 401(k) users. An impending recession is a major stressor for 50.2% of plan participants and 58.1% of solo 401(k) users. Poor returns on investments ranked as the third concern among plan participant respondents at 48.7% and 55.8% for solo 401(k) users.

Regarding retirement readiness, 34.2% of plan participants and 35.7% of solo 401(k) users worry about having enough money saved. Despite being an overall top retirement concern, 57.7% of plan participants agreed that they feel they are not saving enough money for retirement.


“The data collected in our survey reveals the major impact economic uncertainty is having on Americans and their retirement safety,” said Chad Parks, Founder and CEO of Ubiquity, a financial technology pioneer in flat-fee small business retirement plans. “For the past 23 years, Ubiquity has served as a trusted guide and advocate for successful retirement outcomes, and we will continue to serve our clients as these areas of worry persist.”

Data shows some optimism about the future. 69.2% of plan participants expect to make no changes to their 401(k) contributions in 2023, and 60% of solo 401(k) users said the same. Through these findings, Ubiquity now has the advantage of pinpointing areas of concern for their customers to ease worry and boost saving efforts.

The findings reveal the emotional reaction individuals have about the state of retirement, making it clear that the three-legged stool of retirement is broken. There is an urgency to define a new strategy for effectively preparing for the future, and this data provides leaders in the industry an opportunity to rework Americans’ understanding of saving and lay fresh groundwork for the future.

Visit to learn more about Ubiquity and how they’re helping plan participants and solo 401(k) users meet their retirement goals.

For additional information and survey results, please visit our website.


About Ubiquity Retirement + Savings

Since launching Ubiquity Retirement + Savings in 1999, the company’s driving force has been to provide qualified retirement plans that meet the needs of small business owners. Our mission is to empower small businesses and their employees to create a more secure financial future by leveraging technology with affordable retirement solutions and world-class customer support. Ubiquity is a leading fintech company that is one of the first flat-fee-for-service 2 small business plan providers in the nation. With our exclusive, best-in-class Paradigm RKS™ cloud-based platform that automates recordkeeping and plan management functions, we’re able to deliver an easy-to-use experience and peace of mind with zero hidden fees. The company is headquartered in San Francisco with satellite offices from coast to coast. Ubiquity serves over 10,000 American small businesses and hundreds of thousands of savers. With over $3 billion in retirement assets, Ubiquity has clients in all 50 states, delivering a transparent, flat-fee, customizable savings experience. Our tenured team are retirement experts and future-you champions!


Visit to learn more.
1 Ubiquity is not a registered investment advisor and no portion of the material herein should be construed as legal or tax advice. Please consult with your financial planner, attorney and/or tax advisor for advice.
2 Flat fees are charged by Decimal, Inc. for recordkeeping and administrative services. Third-party service providers may assess asset-based fees to customers. Plan sponsors are advised to review all service agreements with providers (e.g., investment advisors, custodians, broker-dealers) to evaluate total plan costs.


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Gregory FCA for Ubiquity Retirement + Savings

Sarah Horton, 610-246-2346



SOURCE: Ubiquity Retirement + Savings

Copyright Business Wire 2023.

PUB: 01/12/2023 09:00 AM/DISC: 01/12/2023 09:02 AM