We Built a Retirement Age Map of America From 401(k) Balances
Where a plan's money sits on the glide path is a measure of its workforce. For each plan, we compute the asset-weighted average target-date vintage: a plan concentrated in 2030 funds has a workforce much closer to retirement than one concentrated in 2055. Rolled up by state, the result is a demographic map derived entirely from fund balances.
The oldest and youngest states
| Oldest (earliest average vintage) | Average vintage | Youngest (latest average vintage) | Average vintage |
|---|---|---|---|
| Vermont | 2037.2 | Washington | 2044.0 |
| Mississippi | 2037.9 | California | 2042.5 |
| Hawaii | 2038.3 | North Dakota | 2041.6 |
| Alaska | 2038.3 | Oklahoma | 2041.5 |
| New Hampshire | 2038.5 | Utah | 2041.4 |
| Rhode Island | 2038.9 | Nebraska | 2041.3 |
States with at least 60 plans holding target-date funds.
How well it tracks
Several results line up with Census age data, though no demographic data entered the calculation. Vermont and New Hampshire, which this measure puts among the oldest, are among the oldest states by median age; Utah, among the youngest here, is the youngest by Census.
What it actually measures
The map reflects where plan sponsors are headquartered, not where every employee lives. Washington and California rank youngest partly because large technology employers with young workforces file from there. The measure also reflects people who save in target-date funds, so plans that default participants into another investment count less.
Why it matters
The same calculation works for a single plan. A plan's average vintage is a quick read on how close its participants are to retirement, which shapes its likely interest in retirement income options, its future outflows, and which products are relevant to it.
About the data
Figures cover 401(k) plans with more than 100 participants that list their holdings on Schedule H of Form 5500, for plan year 2024 (52,763 plans). Dollars are the plans' holdings in mutual funds, collective investment trusts (CITs) and pooled separate accounts on the Schedule of Assets Held.
Every plan, fund and manager behind these numbers is in Axiomatic Plan Intelligence. For more information, email us at info@axiomaticdata.com.
Updated November 2026 with figures from the latest complete plan year (2024). The original LinkedIn post used an earlier version of our data, so some numbers differ.
Originally posted on LinkedIn.