RESEARCH |

2023
Defined Benefit Administration Survey

Reported by PLANSPONSOR | Art by Georgie McAusland
Industry Snapshot
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Industry Snapshot

The overall defined benefit industry continues to mature …

Total DB admin clients
3,574
Total DB participants
22,187,492
Total DB plans
11,348
Estimated DB assets
$789.2B

Defined Benefit Administration Plans by Type

  • Traditional
  • Cash balance
  • Other

Cash Balance Plans by Participant Size

<10 participants
25%
10–99 participants
17%
100–999 participants
26%
1,000–4,999 participants
15%
≥5,000 participants
17%

Industries Offering Cash Balance Plans*

Utilities
19%
Oil & gas/Energy
15%
Law firms
26%
Telecom
7%
Health care - for profit
7%
All other industries
26%
*Data is from 2022 PLANSPONSOR Industry Reports.

Bundled DB Plan Stats

  • Multiple-plan DB clients
  • Single-plan DB clients
  • DB and DC clients
  • Other DB bundles

DB Plans, by Plan Status

Active/Open
34%
Frozen
43%
Closed
22%
Terminated
1%

DB Plan Participants, by Work Status

Active/Employed
33%
Retired
41%
Separated
26%