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Data: Investment Company Institute; Chart: Axios Visuals

A survey last month from Kiplinger and digital wealth management company Personal Capital found that 60% of respondents had taken some form of withdrawal from their IRA or 401(k) during the coronavirus pandemic, but new data suggests those numbers were a bit high.

What's new: Kiplinger has since amended its results and reports that just "a third of respondents took a distribution or loan from their retirement account."

Driving the news: Those numbers better align with a new report from the Investment Company Institute, which tracks retirement plan assets.

  • "A strong majority (65 percent) of US individuals did not take financial actions as a result of COVID-19," ICI's survey finds.
  • The other 35% took a variety of actions, namely using emergency savings and credit cards.

What they're saying: "The survey findings are consistent with the data ICI has published throughout the pandemic based on actions reported by recordkeepers to defined contribution (DC) retirement plans," ICI says. (Defined contribution plans are mainly 401(k)s and similar plans rather than pensions.)

  • Through the first three quarters of 2020, ICI's data found that 3.4% of plan participants took withdrawals from their DC accounts, including 1.2% who took hardship withdrawals.
  • DC plan recordkeepers identified 4.4% of DC plan participants who took CARES Act coronavirus-related distributions.
  • At the end of September 2020, 15.4% of DC plan participants had loans outstanding.

The bottom line: "Together, these two sets of data—the self-reported actions from the survey and the administrative recordkeeper data based on actual DC account activity—contradict claims that large numbers of savers turned to withdrawals or loans from retirement plans in response to COVID-19 financial stress," ICI analysts say in their report.

  • "To the contrary, Americans appear to have placed a high priority on preserving their retirement savings."

Go deeper

Exclusive poll: Republicans favor Greene over Cheney

Data: SurveyMonkey; Chart: Axios Visuals

Conspiracist Rep. Marjorie Taylor Greene is far more popular than Rep. Liz Cheney among Americans who align with the Republican Party, according to a new Axios-SurveyMonkey poll.

Why it matters: As the House GOP caucus is being torn over calls to yank Cheney from congressional leadership for backing Donald Trump's second impeachment, and strip Greene from committee assignments for her baseless conspiracy theories and violent rhetoric, these findings show how strongly Trumpism continues to define most Republicans.

DiDi to delist from NYSE under Chinese govt pressure

Illustration: Sarah Grillo/Axios

Chinese ride-hail giant DiDi said it will delist from the New York Stock Exchange, following a Chinese government crackdown on foreign listings.

Why it matters: This reflects how geopolitical tensions are bleeding into the capital markets.

Updated 19 mins ago - Health

Omicron cases confirmed in 5 U.S. states

A healthcare worker inserts a Covid-19 rapid test into a machine in Denver, Colorado. Photo: Daniel Brenner/Bloomberg via Getty Images

Hawaii became on Thursday the fifth state to confirm the newly discovered Omicron variant after New York announced five new cases earlier in the day.

The latest: In Hawaii, the variant was found in an unvaccinated O'ahu resident with moderate symptoms who had previously been infected with COVID-19, per a state health department statement. The variant has also been confirmed in California, Colorado and Minnesota.