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| Editor’s Note |
| Today we are pleased to bring you a special
edition of NewsDash highlighting our 2014 Defined Contribution Survey: Plan
Benchmarking research. |
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| PLANSPONSOR Research |
| PLANSPONSOR's Defined Contribution Survey - Industry Trends |
| This survey gathers data from thousands of plan
sponsors about their plan design and administration, providing industry
benchmarks. The survey is a study in contrasts and a demonstration of some
surprisingly striking similarities among plans of varying sizes.Read more > |
| Plan Benchmarking: DC Plan Features |
| The survey shows the importance of breaking down
industry averages. For example, only about one-quarter of plans, overall, in
the DC Survey use automatic deferral escalation. However, the percentage jumps
to 43% and 52% among large and mega plans, respectively.Read more > |
| Retirement Income Options Offered |
| Overall, 47% of plans in PLANSPONSOR’s 2014 DC
Survey do not offer any income-oriented products or services. Among mid-sized
plans, 10% offer in-plan retirement income products that guarantee monthly
income, 4% offer in-plan products that guarantee a base benefit that can
increase, 7.5% offer in-plan products not offering guarantees, and 4% offer an
out-of-plan annuity purchase/bidding service.Read more > |
| Highest/Lowest Average Participation and Balance Across Industries |
| Labor unions have the highest average DC plan
participation among industries, at 89.1%. The lowest average DC plan
participation is in the restaurants/food service industry, at 51.3%. Law firms
have the highest average DC plan balance ($181,176), while DC plans of
religious organizations/social services entities have the lowest ($33,875).Read more > |
