Whether it's a sign of economic strength, financial savvy or fear, more workers are bulking up their retirement contributions.
Twenty-one percent of working Americans said they are saving more for retirement than they were last year — the highest level reported in the past five years, according to a recent report by Bankrate.com. Alternatively, 17 percent said they are saving less than they were the year before.
Five years ago when the survey was first conducted, those saving less outnumbered those saving more by nearly 2-to-1. Then, only 15 percent were saving more than the previous year.
Meanwhile, fewer people said they aren't saving at all. Just 5 percent didn't contribute to retirement savings this year or last, an all-time low for the study, but only down slightly from 6 percent in 2011.