According to a new survey, many people are not increasing their retirement savings. The bank-rate report found fewer than one third of working Americans, about 29% increased contributions to their retirement savings.

While 16% of those surveyed lowered their contributions compared to last year. Income level was the biggest factor in determining whether someone increased or lowered their contributions. According to the survey, the highest earners are the ones who made $75,000 or more. They were twice as likely to contribute.