The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) has launched a new online portal designed to help public-sector retirement plans benchmark themselves against similar plans based on plan type, plan demographics, plan design and features, services, investments, governance, and fees.
The portal offers various tools and reporting capabilities based on the Perspectives in Practice benchmarking report published in September that includes 62 individual public-sector retirement plans representing $116 billion in plan assets and 2.4 million individual plan participants.
“The benchmarking initiative is intended to provide the most comprehensive public-sector database widely available," says NAGDCA Board President Steven Montagna. “The survey data allows benchmarking with peers, giving key information for plan sponsors to use in making plan design decisions to support improving retirement outcome.”
More information is available here.