Survey
Best and Worst, by Industry
Below, we showcase the top and bottom performers from the 47 industries represented in the survey. Higher participation rates and average account balances can be expected from industries that pay higher salaries. High employee turnover likely explains low participation rates in the restaurant and food services industry, while the availability of defined benefit plans contributes to the low DC plan participation rate for the government/public works sector. Kim Cochrane, director, client services, at Hub International Mid-Atlantic, notes that traditionally, government employers have offered richer benefits to make up for lower salaries. “We have found that, when employees are offered generous employer contributions, they are less likely to save their own money.” However, she says, government employees who do contribute are generally higher earners who can better afford to save—one explanation for why government/public works is among the top five industries in average deferral rate. Phil Sherman, senior retirement plan consultant at Deschutes Investment Consulting LLC, says what may be the biggest factor in lower participation rates for government plans is that each state is responsible for determining whether it will allow automatic enrollment, and many states will not. —RM
Participation Rate
1 | Telecommunications | 92.0% |
2 | Chemicals & Mining | 88.0% |
3 | Architecture | 87.7% |
4 | Pharmaceuticals | 86.0% |
5 | Biotech | 85.4% |
43 | Government/Public works – City/Municipal | 63.0% |
44 | Government/Public works – County, state and federal | 61.9% |
45 | Consumer services | 61.3% |
46 | Religious organizations | 55.5% |
47 | Restaurant & Food service | 52.3% |
Average Account Balance
1 | Law firm | $329,147 |
2 | Telecommunications | $278,183 |
3 | Accounting/CPA Firm/Financial planning | $215,781 |
4 | Financial services | $211,520 |
5 | Research & Development | $178,974 |
43 | Religious organizations | $60,640 |
44 | Healthcare organization (not for profit) | $60,223 |
45 | Social services | $57,020 |
46 | Government/Public works – County, state and federal | $50,758 |
47 | Government/Public works – City/Municipal | $50,264 |
Average Deferral Rate
1 | Government/Public works – City/Municipal | 17.8% |
2 | Government/Public works – County, state and federal | 13.3% |
3 | Telecommunications | 10.4% |
4 | Law firm | 10.0% |
5 | Research & Development | 9.9% |
43 | Restaurant & Food service | 7.4% |
44 | Social services | 7.4% |
45 | Banking – Commercial/Retail/Other | 7.0% |
46 | Equipment – Sales/Leasing/Service | 6.9% |
47 | Agriculture | 6.9% |
Immediate Eligibility
1 | Religious organizations | 73.3% |
2 | Aerospace & Defense | 65.5% |
3 | Telecommunications | 62.5% |
4 | Biotech | 61.9% |
5 | Healthcare organization (not for profit) | 61.9% |
43 | Real estate | 23.9% |
44 | Investment Banking & Holding companies | 23.6% |
45 | Equipment – Sales/Leasing/Service | 23.3% |
46 | Restaurant & Food service | 21.2% |
47 | Wholesale | 20.3% |
Immediate Vesting
1 | Pharmaceuticals | 66.7% |
2 | Religious organizations | 58.3% |
3 | Education – Higher ed | 54.5% |
4 | Chemicals & Mining | 48.1% |
5 | Membership Organization/Industry Association/Labor Union | 47.1% |
43 | Media/Communications/Publishing | 17.4% |
44 | Architecture | 15.4% |
45 | Equipment – Sales/Leasing/Service | 14.8% |
46 | Government/Public Works – County, State and federal | 13.8% |
47 | Government/Public Works – City/Municipal | 8.2% |
2025 PLANSPONSOR DC Survey Plan Benchmarking and Industry Reports
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Contact Rob Reif / 212-217-6906 / robert.reif@issmediasolutions.com