2020
DC Survey: Plan Benchmarking

2020 Survey

Participant Education and Advice

The COVID-19 pandemic has elevated the perceived importance of investment advice and financial wellness offerings. This year, a record 85% of plans now offer some form of investment advice. Financial education was also more common and is now offered in 74% of plans, up from just 56% in 2017. Nearly all types of financial education saw year-over-year increases in their accessibility. Such growth is fueled in part by the near universal belief sponsors have in the benefits of financial wellness programs: Over 95% agree that such programs are “very useful” to participants.

Investment Advice Offerings

One-on-one meetings with adviser
52%
Independent third-party services
30%
Recordkeeper’s proprietary offerings
47%
Other source
3%
No ­investment advice
15%

Types of Financial Education/Guidance Offered

Saving strategies
53%
Investing basics
49%
Rolling into plan – for new hires
42%
Rolling out of plan – for separating workers
37%
Credit/Debt management
32%
College saving
27%
Home buying
17%
Do not offer financial education
26%

When Offered, Financial Wellness Programs Are Very Useful to Employees/Participants

Agree strongly
38%
Agree moderately
37%
Agree slightly
20%
Disagree slightly
3%
Disagree moderately
1%
Disagree strongly
1%


PLANSPONSOR Industry Reports 2021

Unique defined contribution (DC) benchmarking tools based on feedback from roughly 3,000 employers

PLANSPONSOR Industry Reports in a nutshell:

  • 65+ pages in PDF format
  • Cover DC plans in 50 different industries
  • Compare client plans to others in the same industry and asset class, and overall
  • Available with your firm's branding or logo on every page
  • Distributable to sales staff or adviser network; post on your client site behind registration

Availability: December 2020
Download more information here.
Contact Rob Reif / 212-217-6906 / robert.reif@issmediasolutions.com