2019
DC Survey: Plan Benchmarking

Data Sweep: Our latest findings on DC plans—for benchmarking a plan against its peers or just gleaning some new solutions

2019 Survey

Oversight

As a general rule, larger plans are far more likely to have formal policies and procedures, to assist with plan governance. For instance, nearly all large plans (96%) and mega plans (95%) have an investment committee, but less than half (45%) of micro plans have one. The same is true as to investment policy statements (IPSs): 88% of large plans have an IPS vs. only 48% of micro plans. Use of a 3(16) fiduciary to oversee certain plan administration decisions is more uniform, with 60% to 70% of plans of all sizes reporting some form of outsourcing arrangement.


Plan Has an Investment Committee

All plan sizes
76%
<$5mm
45%
$5mm – $50mm
84%
>$50mm – $200mm
96%
>$200mm
95%

Plan Has an IPS

All plan sizes
69%
<$5mm
48%
$5mm – $50mm
71%
>$50mm – $200mm
88%
>$200mm
88%

Plans Employs Third-Party Administrator as 3(16) Fiduciary

  • Yes – TPA has broad scope
  • Yes – TPA has limited scope
  • No – TPA is not a 3(16) fiduciary