A new study finds that the median American worker has just $955 saved for retirement through a defined contribution plan like a 401(k) account , with most falling well short of recommended retirement savings targets for their ages. The study by the National Institute on Retirement Security (NIRS) found that among all workers between the ages of 21 and 64, including those who haven’t saved anything for retirement, the median amount saved in a defined contribution plan was just $955 as of 2023.