Does the negative savings rate include retirement savings (401k, etc.) as savings or spending. source answer.

Public Comments

1. According to the article sourced below, the savings rate is calculated by designating income AFTER TAXES as "disposable", then subtracting consumer spending. As you are probably aware, 401(k) money is taken out before taxes, so it may not be included in the calculation at all. If not, it could partially explain why the savings rate has gotten so low - because more people are participating in their 401(k).
2. Yes I believe you are right. I remember hearing that last year. Tax deductable savings like 401ks are not included. And remember when comparing to the 1930's (last time savings rates were negative) around the depression the average Joe did not have a 401K but he did have a pension plan that would be similar. I believe your Roth retirement savings is counted though.
3. Doesn't include it as either...401k savings are not included nor is the income derived in home appreciation which many people are counting on utilizing for their retirement. Which of course means that the figure they are citing is largely irrelevent today and will be even more so in the future.