2020 Defined Contribution Plan Industry Report

2020 Defined Contribution Plan Industry Report

Overall results from the 2019 PLANSPONSOR Defined Contribution (DC) Survey

For Sentinel Benefits & Financial Group use only.Source: PLANSPONSOR Defined Contribution Survey, 2019. Valid until December 2020

1

Table of Contents

Summary of Findings 2

Plan Types and Design Features 6

Plan Loans & Withdrawals 13

“Auto” Features 22

Participation and Eligibility 32

Employer Contributions 37

Plan Investments 54

Fees/Expenses 64

Defined Contribution Providers 74

Advice and Advisers 78

Plan Oversight and Administration 89


2

Summary of Findings


3

Table of Contents

The PLANSPONSOR 2019 Defined Contribution (DC) Survey was conducted via an online questionnaire sent to approximately 35,000 DC plan sponsors in September and October 2019. Survey results incorporate the responses of 3,472 plan sponsors from a broad variety of U.S. industries. Of the 3,472:

• 253 (7.3%) are plans with <$1 million in DC assets• 792 (22.8%) are plans with $1 million-$5 million in DC assets• 443 (12.8%) are plans with >$5 million-$10 million in DC assets• 523 (15.1%) are plans with >$10 million-$25 million in DC assets• 380 (10.9%) are plans with >$25 million-$50 million in DC assets• 306 (8.8%) are plans with >$50 million-$100 million in DC assets• 192 (5.5%) are plans with >$100 million-$200 million in DC assets• 220 (6.3%) are plans with >$200 million-$500 million in DC assets• 125 (3.6%) are plans with >$500 million-$1 billion in DC assets• 238 (6.9%) are plans with >$1 billion in DC assets


Participation Rate Average Account Balance Average Deferral Rate Immediate Eligibility Immediate Vesting

1 Utilities [89.7%] Law Firms [$217,140] Utilities [9.2%] Govt: County/State/Federal [88.7%] Labor Unions [100.0%]

2 Insurance/Reinsurance [87.6%] Utilities [$180,015] Membership [8.8%] Education: Higher Ed [79.7%] Education: Higher Ed [68.7%]

3 Financial Services [87.2%] Financial Services [$149,827] Chemicals/Mining [8.4%] Healthcare (not for profit) [76.3%] Agriculture [54.8%]

4 Oil & Gas/Energy [86.4%] Engineering [$135,056] Engineering [8.4%] Education: K-12, Preschool [71.8%] Oil & Gas/Energy [53.5%]

5 Credit Unions [85.7%] Research/Development [$132,728] Technology [8.2%] Govt: City/Municipal [70.0%] Fortune 1000 [52.6%]

6 Chemicals/Mining [85.6%] Insurance/Reinsurance [$131,113] Fortune 1000 [8.0%] Fortune 1000 [67.4%] Pharmaceuticals [51.4%]

7 Engineering [84.9%] Consulting [$130,882] Consulting [8.0%] Labor Unions [66.6%] Chemicals/Mining [51.3%]

8 Banking: Commercial [84.5%] Fortune 1000 [$130,023] Research/Development [7.9%] Oil & Gas/Energy [62.5%] Education: K-12, Preschool [50.0%]

9 Labor Unions [84.4%] Chemicals/Mining [$128,507] Financial Services [7.9%] Utilities [59.0%] Accounting [48.8%]

10 Architecture [83.9%] Membership [$118,376] Law Firms [7.8%] Chemicals/Mining [56.8%] Research/Development [47.8%]

11 Research/Development [83.7%] Accounting [$116,715] Oil & Gas/Energy [7.7%] Religious/Social Svcs [54.0%] Business Services [47.3%]

12 Consulting [83.5%] Labor Unions [$115,612] Insurance/Reinsurance [7.7%] Research/Development [53.1%] Holding Co's/Inv Banking [46.4%]

13 Accounting [83.2%] Oil & Gas/Energy [$111,623] Education: Higher Ed [7.6%] Technology [52.8%] Govt: County/State/Federal [45.1%]

14 Distribution [83.1%] Distribution [$110,914] Aerospace/Defense [7.6%] Consulting [51.7%] Insurance/Reinsurance [44.3%]

15 Pharmaceuticals [82.9%] Architecture [$110,708] Media/Communications [7.5%] Non-Profit Orgs [50.8%] Utilities [44.2%]

16 Media/Communications [82.2%] Technology [$108,989] Accounting [7.4%] Financial Services [50.4%] Restaurants/Food Service [43.7%]

17 Technology [82.1%] Healthcare (for profit) [$108,381] Architecture [7.4%] Pharmaceuticals [47.7%] Environmental [43.4%]

18 Law Firms [80.8%] Holding Co's/Inv Banking [$107,439] Environmental [7.4%] Aerospace/Defense [44.4%] Membership [43.2%]

19 Wholesale [80.8%] Wholesale [$106,739] Pharmaceuticals [7.3%] Engineering [44.3%] Consulting [42.1%]

20 Automotive: Manufacturing [80.3%] Banking: Commercial [$101,905] Wholesale [7.2%] Insurance/Reinsurance [42.1%] Manufacturing: Consumer [41.9%]

21 Membership [80.3%] Aerospace/Defense [$101,870] Business Services [7.1%] Transportation/Airlines [40.7%] Financial Services [40.3%]

22 Aerospace/Defense [80.2%] Real Estate [$100,287] Manufacturing: Industrial [6.9%] Telecommunications [40.7%] Banking: Commercial [40.3%]

23 Environmental [79.9%] Media/Communications [$99,225] Building/Construction [6.9%] Environmental [37.0%] Architecture [40.0%]

24 Manufacturing: Industrial [79.6%] Building/Construction [$99,123] Transportation/Airlines [6.8%] Business Services [34.1%] Automotive: Manufacturing [38.2%]

4

Overall Rankings: Top 50% industries in key plan areas


5

Participation Rate Average Account Balance Average Deferral Rate Immediate Eligibility Immediate Vesting

25 Advertising/Marketing [79.1%] Manufacturing: Industrial [$97,218] Holding Co's/Inv Banking [6.8%] Holding Co's/Inv Banking [32.8%] Healthcare (for profit) [38.1%]

26 Manufacturing: Consumer [79.0%] Education: Higher Ed [$95,922] Govt: County/State/Federal [6.8%] Architecture [32.5%] Retail [37.2%]

27 Holding Co's/Inv Banking [78.7%] Advertising/Marketing [$95,381] Govt: City/Municipal [6.8%] Accounting [32.4%] Law Firms [37.0%]

28 Non-Profit Orgs [78.6%] Environmental [$90,866] Non-Profit Orgs [6.8%] Law Firms [31.6%] Hotels/Gaming [36.0%]

29 Telecommunications [78.5%] Transportation/Airlines [$90,629] Education: K-12, Preschool [6.8%] Equipment [29.7%] Aerospace/Defense [35.7%]

30 Fortune 1000 [78.5%] Govt: City/Municipal [$89,180] Automotive: Manufacturing [6.6%] Automotive: Manufacturing [28.2%] Technology [35.4%]

31 Transportation/Airlines [77.6%] Consumer Services [$134,867] Advertising/Marketing [6.6%] Consumer Services [28.1%] Telecommunications [35.0%]

32 Education: Higher Ed [77.0%] Pharmaceuticals [$86,044] Manufacturing: Consumer [6.6%] Banking: Commercial [28.0%] Manufacturing: Industrial [34.7%]

33 Agriculture [77.0%] Automotive: Manufacturing [$85,356] Banking: Commercial [6.5%] Manufacturing: Industrial [26.8%] Real Estate [33.9%]

34 Equipment [76.8%] Equipment [$84,650] Healthcare (for profit) [6.5%] Healthcare (for profit) [26.4%] Building/Construction [33.8%]

35 Real Estate [76.8%] Agriculture [$78,599] Retail [6.5%] Agriculture [26.3%] Non-Profit Orgs [32.5%]

36 Govt: City/Municipal [76.6%] Manufacturing: Consumer [$77,586] Real Estate [6.4%] Manufacturing: Consumer [25.1%] Engineering [31.1%]

37 Building/Construction [75.9%] Non-Profit Orgs [$77,278] Telecommunications [6.4%] Media/Communications [24.3%] Religious/Social Svcs [30.7%]

38 Healthcare (for profit) [75.8%] Business Services [$76,502] Distribution [6.4%] Distribution [22.2%] Wholesale [29.5%]

39 Healthcare (not for profit) [74.4%] Retail [$74,027] Healthcare (not for profit) [6.3%] Advertising/Marketing [20.3%] Equipment [27.2%]

40 Retail [73.2%] Govt: County/State/Federal [$73,900] Hotels/Gaming [6.3%] Membership [20.0%] Distribution [25.9%]

41 Business Services [73.1%] Credit Unions [$69,626] Agriculture [6.2%] Retail [19.6%] Media/Communications [25.9%]

42 Consumer Services [71.1%] Telecommunications [$68,954] Restaurants/Food Service [6.0%] Building/Construction [17.8%] Healthcare (not for profit) [25.0%]

43 Auto: Dealerships & Service [67.9%] Auto: Dealerships & Service [$67,862] Credit Unions [5.8%] Real Estate [16.2%] Consumer Services [25.0%]

44 Govt: County/State/Federal [67.2%] Healthcare (not for profit) [$55,147] Labor Unions [5.8%] Wholesale [15.2%] Advertising/Marketing [25.0%]

45 Religious/Social Svcs [66.4%] Hotels/Gaming [$55,121] Consumer Services [5.7%] Hotels/Gaming [14.2%] Govt: City/Municipal [23.8%]

46 Education: K-12, Preschool [66.1%] Education: K-12, Preschool [$51,991] Equipment [5.6%] Restaurants/Food Service [12.8%] Transportation/Airlines [19.0%]

47 Hotels/Gaming [63.9%] Restaurants/Food Service [$50,659] Auto: Dealerships & Service [5.4%] Auto: Dealerships & Service [11.6%] Credit Unions [13.4%]

48 Restaurants/Food Service [61.7%] Religious/Social Svcs [$34,858] Religious/Social Svcs [4.7%] Credit Unions [9.2%] Auto: Dealerships & Service [10.7%]

Overall Rankings: Bottom 50% industries in key plan areas


6

Plan Types and Design Features


7

What type of DC plan does your organization offer?

All Industries

Overall <$1MM $1MM-$5MM$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

401(k) 87.9% 90.5% 92.6% 93.7% 88.0% 87.1% 82.7% 82.2% 80.9% 84.8% 79.7%

403(b) 10.6% 5.9% 7.2% 6.1% 11.3% 11.1% 14.4% 13.1% 19.1% 17.6% 14.8%

457 10.0% 4.7% 4.9% 4.1% 9.0% 9.2% 14.4% 13.1% 22.3% 17.6% 24.1%

Money Purchase 1.9% 1.2% 1.8% 1.1% 1.7% 1.1% 1.3% 2.6% 5.0% 2.4% 3.8%

Profit Sharing 17.5% 11.9% 15.7% 20.6% 18.4% 20.8% 18.3% 19.4% 19.5% 17.6% 12.2%

ESOP/KSOP 3.1% 0.0% 1.4% 2.0% 3.1% 3.4% 4.6% 3.1% 5.5% 4.0% 9.7%

Nonqualified Deferred

Compensation (NQDC)

9.7% 0.8% 1.8% 2.5% 3.1% 7.6% 11.1% 19.4% 20.9% 38.4% 41.8%

SEP 0.4% 0.8% 0.4% 0.2% 0.2% 0.3% 1.0% 0.0% 0.5% 0.8% 0.8%

SIMPLE IRA 0.7% 1.6% 0.9% 0.7% 0.6% 0.3% 1.0% 0.0% 0.5% 0.8% 0.0%

Other 2.9% 2.0% 2.0% 2.5% 2.1% 2.6% 2.6% 2.6% 5.9% 4.0% 6.3%


8

Does your organization offer any of these additional workplace retirement/savings plans?

All Industries

Overall <$1MM$1MM-$5MM

$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Defined Benefit Plan (Traditional)

26.5% 21.7% 20.0% 24.6% 22.1% 21.3% 27.2% 27.7% 33.8% 43.9% 56.4%

Defined Benefit Plan (Cash Balance)

4.8% 0.4% 2.2% 1.9% 1.8% 2.5% 3.0% 3.3% 12.7% 15.4% 23.9%

Defined Benefit Plan (Hybrid/Other Formula)

1.7% 0.0% 0.3% 0.5% 0.8% 1.6% 1.0% 2.7% 2.8% 2.4% 11.1%

Equity Compensation (e.g., Stock) Plan

6.9% 0.8% 1.8% 1.9% 1.8% 4.4% 9.6% 12.0% 17.4% 21.1% 29.5%

Health Savings Accounts (HSA)

45.2% 23.4% 31.3% 39.2% 44.2% 50.3% 54.3% 60.3% 59.2% 74.8% 66.7%

Retiree Health Benefits 12.3% 3.3% 1.7% 3.8% 6.1% 7.1% 17.5% 20.7% 31.9% 33.3% 51.7%

NONE - Do not offer any of these plans

34.7% 56.1% 50.3% 41.1% 37.8% 34.2% 22.5% 18.5% 16.0% 6.5% 4.7%


9

Does your organization offer any of the following higher/continuing education programs to employees?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

529 college savings plan (via employee payroll

deductions)8.7% 2.2% 2.1% 5.0% 7.6% 9.6% 15.2% 14.1% 18.7% 17.4% 19.0%

Tuition assistance program(i.e., employer contribution

to 529 plan)3.3% 0.4% 1.5% 1.5% 4.0% 4.2% 5.2% 6.5% 2.6% 5.3% 7.6%

Tuition reimbursement program

(i.e., reimbursement for higher education/tuition expenses incurred while

employed)

47.8% 17.4% 23.4% 40.1% 44.3% 58.0% 69.7% 74.6% 73.5% 75.4% 76.8%

Student loan repayment/ reimbursement program

(i.e., employer contributions toward loans for new/recent graduates)

3.2% 1.3% 1.3% 2.3% 3.1% 4.2% 4.4% 6.0% 6.8% 3.6% 4.3%

NONE - Do not offer any assistance with higher

education expenses49.3% 81.3% 74.8% 57.0% 51.6% 38.1% 26.2% 23.8% 22.9% 22.3% 21.1%


10

Does your DC plan allow for Roth contributions?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 76.9% 63.4% 72.0% 75.5% 77.9% 81.9% 77.4% 80.2% 83.0% 83.2% 84.5%

No 23.1% 36.6% 28.0% 24.5% 22.1% 18.1% 22.6% 19.8% 17.0% 16.8% 15.5%


11

Does your DC plan allow for in-plan Roth conversions?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes - our plan currently allows for in-plan

conversions35.6% 27.4% 28.5% 28.7% 34.1% 37.6% 37.5% 38.5% 43.9% 44.8% 53.4%

No - but we are considering adding this feature in the next 12-

18 months

5.6% 3.2% 2.9% 5.0% 4.3% 5.0% 6.9% 11.2% 11.1% 6.3% 6.8%

No - and we are not currently considering

adding this feature35.5% 20.2% 31.6% 38.0% 33.6% 41.6% 44.4% 36.4% 33.3% 40.6% 34.6%

Unsure / Don't know

23.3% 49.2% 37.0% 28.3% 28.0% 15.8% 11.1% 14.0% 11.7% 8.3% 5.2%


12

Is your DC plan a “Safe Harbor” plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 56.0% 68.7% 68.3% 59.2% 55.4% 51.8% 51.1% 42.6% 46.3% 43.6% 40.4%

No 44.0% 31.3% 31.7% 40.8% 44.6% 48.2% 48.9% 57.4% 53.7% 56.4% 59.6%


13

Plan Loans & Withdrawals


14

Does your plan include a provision allowing for participant loans?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 82.0% 68.6% 75.0% 77.5% 85.7% 84.2% 86.1% 86.2% 91.8% 92.6% 91.5%

No 16.8% 24.2% 22.5% 22.3% 13.9% 15.6% 13.5% 12.8% 8.2% 7.4% 8.5%

Unsure / Don't know

1.3% 7.2% 2.4% 0.2% 0.4% 0.3% 0.4% 1.1% 0.0% 0.0% 0.0%


15

Can a participant take loans against Roth balances?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 62.7% 30.5% 45.3% 54.4% 66.3% 65.3% 72.2% 76.5% 72.5% 79.3% 77.2%

No 14.9% 19.5% 20.6% 17.6% 12.0% 14.4% 11.2% 10.6% 13.7% 8.7% 14.4%

Unsure / Don't know

22.4% 50.0% 34.2% 28.0% 21.7% 20.3% 16.6% 12.9% 13.7% 12.0% 8.3%


16

How many loans can a participant have open at one time?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

One 56.8% 71.4% 65.2% 58.1% 59.6% 52.8% 49.6% 49.0% 58.1% 48.6% 39.8%

Two 33.8% 22.7% 25.0% 31.1% 32.9% 34.9% 41.0% 40.8% 33.9% 44.1% 49.8%

Three 5.1% 1.9% 5.6% 5.7% 2.5% 7.0% 5.1% 5.7% 5.4% 2.7% 7.6%

4 or more 4.3% 3.9% 4.1% 5.1% 5.0% 5.3% 4.3% 4.5% 2.7% 4.5% 2.8%


17

If loans are offered, what % of plan participants have outstanding loans?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average 14.2% 13.7% 14.4% 12.3% 12.1% 13.9% 14.2% 15.3% 16.2% 16.1% 17.4%

Median 10.9% 3.0% 8.0% 10.0% 10.0% 11.2% 13.0% 13.0% 14.0% 16.0% 17.0%


18

Average loan balance for participants with open/outstanding loans:

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average $10,121 $10,720 $9,904 $10,564 $10,433 $9,938 $8,857 $10,235 $10,088 $10,546 $10,454

Median $8,700 $9,091 $7,500 $7,948 $8,673 $8,781 $8,240 $9,695 $9,563 $10,000 $9,625


19

Does your plan allow separated employees to continue to make loan payments after termination?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes – feature has been or will soon be implemented in the

plan

32.5% 20.8% 21.2% 22.1% 24.1% 25.2% 34.9% 40.4% 43.7% 64.2% 74.5%

No – but we are considering adding it in

the future4.8% 5.4% 4.8% 2.6% 4.3% 5.9% 4.3% 6.4% 4.9% 7.3% 5.3%

No – feature is not currently available and we have not

discussed adding it

53.1% 45.6% 56.0% 66.0% 64.8% 61.7% 55.2% 50.0% 45.9% 25.7% 18.3%

Unsure / Don't know

9.6% 28.2% 18.1% 9.3% 6.8% 7.2% 5.6% 3.2% 5.5% 2.8% 1.9%


20

Which of the following in-service distribution options are allowed by your plan document?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Hardship Withdrawals

86.4% 70.4% 83.1% 87.9% 88.1% 90.9% 87.5% 85.5% 91.4% 94.8% 91.0%

Distributions connected to attainment of a

specific age73.5% 44.2% 63.8% 73.6% 77.5% 81.5% 78.5% 77.4% 84.2% 88.8% 85.0%

Distributions to active duty military

personnel (as defined in the HEART Act)

33.9% 17.6% 23.7% 23.5% 35.2% 35.0% 46.2% 39.8% 44.0% 57.8% 56.0%

Distribution of rollover assets previously received from the

employee

38.6% 22.3% 28.2% 24.9% 34.8% 36.4% 47.7% 54.3% 54.1% 65.5% 72.2%

Distribution of after tax dollars

14.8% 4.3% 7.8% 8.6% 10.7% 9.4% 16.1% 24.7% 20.1% 40.5% 48.7%

NONE - we do not allow in-service distributions

of any type5.2% 18.9% 7.5% 4.3% 2.8% 2.8% 3.6% 3.8% 1.9% 1.7% 2.6%


21

If allowed, what percentage of plan participants have made hardship withdrawals in the past year?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average 1.4% 1.1% 0.8% 1.1% 1.6% 0.7% 1.9% 2.0% 2.6% 2.8% 1.7%

Median 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.0% 0.0% 0.0%


22

“Auto” Features


23

Does your plan offer automatic enrollment?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 48.2% 26.1% 26.3% 37.2% 49.1% 58.7% 61.5% 71.7% 70.2% 76.7% 69.4%

No 49.8% 66.4% 69.4% 61.1% 49.7% 41.3% 38.5% 27.7% 29.3% 22.5% 30.6%

Unsure / Don't know

2.0% 7.5% 4.3% 1.7% 1.2% 0.0% 0.0% 0.5% 0.5% 0.8% 0.0%


24

Which of the following, if any, types of "re-enrollment" has your plan used/tried in the past 3 years (since 2016)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Re-enrolled employees not participating in

the plan (requiring them to opt out again else be

enrolled)

19.0% 13.2% 13.1% 16.6% 15.9% 20.5% 22.4% 21.9% 26.4% 20.9% 20.6%

Re-enrolled participants saving below the default

deferral rate (thus "boosting" their deferral

rate)

11.0% 5.9% 5.2% 7.0% 9.2% 14.9% 14.7% 12.5% 14.3% 16.5% 11.6%

Re-enrolled participants not invested in the default investment

(meaning current/futurecontributions are invested

in the plan default)

4.8% 2.9% 7.0% 5.7% 6.3% 4.7% 3.5% 3.1% 2.1% 6.6% 3.9%

NONE – We have NOT "re-enrolled" any employees/

participants75.4% 80.9% 78.9% 78.3% 77.0% 71.6% 74.7% 73.4% 69.3% 74.7% 76.1%


25

What is the default investment for automatic enrollment?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Target-date Fund (all types)

75.0% 57.7% 60.7% 69.7% 69.7% 76.4% 75.0% 77.8% 80.1% 91.0% 90.5%

Risk-based Lifestyle Fund

3.5% 1.9% 5.4% 4.1% 4.4% 2.5% 4.3% 3.2% 2.1% 1.1% 3.2%

BalancedFund

7.3% 11.5% 7.1% 8.3% 8.8% 7.9% 9.8% 10.3% 5.7% 1.1% 1.9%

Professionally Managed Account (participant-

level allocation model)7.9% 13.5% 10.7% 7.6% 8.3% 6.9% 8.5% 7.1% 10.6% 3.4% 4.4%

Stable Value Fund / GIC 1.5% 0.0% 3.0% 0.7% 3.1% 3.0% 0.0% 0.8% 0.0% 2.2% 0.0%

Money Market Fund

2.6% 5.8% 7.1% 6.2% 3.5% 2.0% 1.2% 0.0% 0.0% 1.1% 0.0%

Other 2.2% 9.6% 6.0% 3.4% 2.2% 1.5% 1.2% 0.8% 1.4% 0.0% 0.0%


26

Which of the following best describes the type of target-date fund used as a default investment for your plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Retail / Single Manager Fund

(Active Management)27.7% 13.0% 28.6% 23.1% 21.8% 30.5% 32.1% 33.0% 35.8% 32.9% 19.8%

Retail / Single Manager Fund (Indexed)

18.6% 21.7% 15.5% 23.1% 15.0% 15.6% 17.4% 18.7% 24.2% 18.6% 20.6%

Pre-packaged Institutional Investment

(i.e., single or multi-manager CIT, etc.)

24.3% 17.4% 15.5% 22.0% 30.1% 19.1% 27.5% 24.2% 21.1% 27.1% 31.0%

Custom Target-Date Fund

(using investments from plan lineup)

26.6% 47.8% 36.9% 30.8% 26.3% 33.3% 20.2% 23.1% 14.7% 20.0% 26.2%

Other Strategy/Type 2.8% 0.0% 3.6% 1.1% 6.8% 1.4% 2.8% 1.1% 4.2% 1.4% 2.4%


27

Is your default investment option a proprietary investment affiliated with your plan recordkeeper/administrator?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 27.1% 28.6% 29.2% 29.9% 26.4% 28.4% 25.7% 33.6% 27.8% 26.9% 16.9%

No 55.3% 45.7% 35.8% 51.3% 53.3% 54.0% 58.8% 57.5% 59.3% 57.7% 72.8%

Unsure / Don't know

17.7% 25.7% 35.0% 18.8% 20.3% 17.6% 15.4% 8.8% 13.0% 15.4% 10.3%


28

What is the default deferral rate as a percentage of the employee’s salary?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

1% 2.9% 1.9% 5.2% 4.0% 4.3% 1.5% 2.4% 0.8% 1.4% 2.2% 3.2%

2% 7.4% 7.5% 8.1% 11.4% 6.9% 6.3% 7.1% 6.3% 10.6% 1.1% 7.1%

3% 39.5% 35.8% 47.1% 47.7% 41.4% 37.4% 38.8% 39.1% 35.2% 42.4% 28.2%

4% 10.7% 15.1% 8.1% 10.7% 9.5% 16.5% 10.6% 10.2% 9.9% 9.8% 8.3%

5% 13.3% 17.0% 8.7% 8.1% 16.4% 12.1% 14.7% 14.1% 15.5% 13.0% 15.4%

6% 20.1% 7.5% 14.5% 12.8% 16.8% 21.4% 22.9% 23.4% 21.8% 25.0% 30.8%

More than 6% 3.2% 11.3% 0.6% 1.3% 2.6% 1.9% 1.8% 4.7% 4.9% 5.4% 5.1%

Other1 2.8% 3.8% 7.6% 4.0% 2.2% 2.9% 1.8% 1.6% 0.7% 1.1% 1.9%


29

Does your plan offer “Auto Escalation” (i.e., automatic deferral increases)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

No - we do not offer auto escalation to

participants54.5% 67.4% 71.8% 68.0% 59.8% 53.7% 40.1% 36.1% 27.7% 24.8% 24.9%

Yes - participants are defaulted into auto

escalation at time of enrollment unless they

opt out; all other participants can opt in at any time

22.3% 4.8% 8.3% 13.2% 22.3% 26.0% 36.6% 37.2% 38.8% 38.8% 41.0%

Yes - but participation is voluntary and

participants must opt in to auto escalation

17.7% 8.3% 10.0% 13.9% 14.3% 17.7% 21.8% 24.0% 32.5% 35.5% 33.2%

Unsure / Don't know

5.5% 19.6% 10.0% 4.8% 3.5% 2.5% 1.4% 2.7% 1.0% 0.8% 0.9%


30

Which of the following best describes (as a percentage of salary) your organization's default/recommended automatic escalation rate?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Less than 1% 1.5% 0.0% 1.6% 2.7% 0.0% 3.2% 1.2% 0.9% 0.7% 1.1% 2.4%

Exactly 1% 71.7% 65.4% 58.7% 67.3% 70.2% 70.1% 72.7% 81.7% 76.6% 71.9% 76.3%

More than 1% 6.0% 3.8% 6.3% 9.1% 8.8% 6.5% 5.5% 4.6% 5.5% 4.5% 3.6%

Not applicable –Do not have a default or

recommended auto escalation rate

15.1% 26.9% 17.5% 12.7% 12.9% 15.6% 15.8% 9.2% 14.5% 20.2% 16.0%

Unsure / Don't know

5.7% 3.8% 15.9% 8.2% 8.2% 4.5% 4.8% 3.7% 2.8% 2.2% 1.8%


31

Excluding IRS limits, does your automatic escalation policy have a cap (i.e., increase 1%per year up to 10% of salary)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 58.2% 28.6% 39.3% 50.5% 55.4% 62.2% 62.8% 66.7% 63.5% 51.8% 69.6%

No 26.3% 35.7% 25.0% 22.3% 28.9% 25.7% 21.8% 23.1% 27.0% 39.8% 24.7%

Unsure / Don't know

15.5% 35.7% 35.7% 27.2% 15.7% 12.2% 15.4% 10.2% 9.5% 8.4% 5.7%


32

Participation and Eligibility


33

What is the participation rate in your DC plan among eligible employees?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average 78.9% 72.0% 74.4% 78.9% 81.4% 79.1% 80.9% 83.2% 81.1% 83.4% 82.9%

Median 87.0% 79.0% 79.0% 84.0% 87.0% 85.0% 91.0% 92.0% 90.0% 90.0% 91.5%


34

What is the average participant account balance?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average $103,108 $51,957 $85,278 $106,308 $108,339 $101,057 $108,651 $110,209 $127,969 $124,315 $137,832

Median $79,970 $36,242 $60,000 $77,778 $87,632 $83,209 $86,021 $85,014 $101,500 $106,346 $126,200


35

What is the average contribution/deferral rate among active participants?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average 7.1% 6.2% 6.7% 6.7% 6.7% 7.1% 7.4% 7.7% 7.5% 7.8% 8.5%

Median 6.8% 5.0% 6.0% 6.0% 6.5% 7.0% 7.3% 7.2% 7.4% 8.0% 8.2%


36

When are full-time employees eligible to participate in the plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Immediately upon hire

36.9% 20.1% 20.2% 25.2% 27.4% 38.8% 46.8% 51.4% 60.8% 72.5% 81.4%

Within 3 months of employment

30.5% 21.0% 24.1% 33.5% 39.4% 39.6% 37.0% 34.3% 31.9% 19.2% 14.6%

After 4 to 11 months of employment

12.3% 17.0% 17.0% 16.6% 15.7% 12.4% 7.4% 5.5% 2.9% 3.3% 1.8%

After 1 year of employment

18.6% 37.6% 36.5% 23.5% 16.1% 8.4% 7.0% 6.6% 2.9% 4.2% 1.3%

After more than 1 year of employment

1.2% 2.2% 1.8% 1.2% 1.2% 0.6% 1.4% 1.1% 1.0% 0.8% 0.0%

Unsure / Don't know

0.5% 2.2% 0.4% 0.0% 0.2% 0.3% 0.4% 1.1% 0.5% 0.0% 0.9%


37

Employer Contributions


38

Does your organization offer a profit sharing or non-matching contribution to participant accounts?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 48.4% 38.8% 45.4% 52.1% 48.5% 53.6% 49.5% 46.0% 49.0% 50.9% 50.2%

No 48.3% 51.6% 49.5% 45.4% 49.2% 44.6% 47.3% 51.1% 50.5% 48.2% 47.9%

Unsure / Don't know

3.3% 9.6% 5.1% 2.5% 2.3% 1.7% 3.3% 2.8% 0.5% 0.9% 1.8%


39

Which of the following profit sharing / non-matching plan types are associated with your designated defined contribution plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

"Pro-Rata" Profit Sharing Plan

(i.e. all employees receive the same % of compensation)

46.0% 46.8% 38.6% 43.1% 49.8% 49.2% 51.5% 59.0% 53.3% 47.4% 35.5%

Non-elective Safe Harbor

Contribution (i.e., 3% or more of pay to all

eligible employees)

22.0% 29.1% 28.0% 24.8% 22.3% 18.1% 20.8% 11.5% 13.0% 12.3% 23.4%

"New Comparability“ Profit Sharing Plan (i.e.,

employees groups receive contributions at

different rates)

14.5% 13.9% 17.1% 15.3% 17.1% 15.3% 15.4% 5.1% 10.9% 17.5% 7.5%

"Fixed Dollar“ Profit Sharing Plan (i.e., all

employees receive the same fixed dollar

amount)

3.0% 2.5% 4.4% 2.5% 1.9% 2.8% 1.5% 3.8% 3.3% 5.3% 2.8%

"Age weighted“ Profit Sharing Plan (i.e., older

employees receive a greater percentage of

profit sharing contributions)

2.5% 0.0% 2.0% 3.5% 0.5% 2.3% 1.5% 2.6% 4.3% 7.0% 5.6%

Other type 11.9% 7.6% 9.9% 10.9% 8.5% 12.4% 9.2% 17.9% 15.2% 10.5% 25.2%


40

Which range best reflects your organization's profit sharing/non-matching contribution(as a percentage of pay) for the most recent plan year?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

0% (no contribution in last plan year)

6.8% 1.3% 10.8% 12.0% 6.3% 6.3% 6.3% 2.6% 4.3% 1.8% 0.0%

Less than 3% 22.4% 28.0% 22.7% 19.5% 23.2% 20.5% 28.1% 19.5% 21.7% 16.1% 24.3%

Exactly 3% 15.1% 22.7% 18.9% 17.0% 19.3% 14.2% 5.5% 7.8% 8.7% 8.9% 15.0%

3% - 5% 23.8% 22.7% 24.5% 24.5% 18.4% 29.0% 24.2% 18.2% 20.7% 21.4% 30.8%

5% - 7% 12.5% 9.3% 8.0% 7.5% 16.4% 12.5% 15.6% 26.0% 14.1% 19.6% 10.3%

7% - 10% 10.3% 10.7% 5.9% 9.0% 8.2% 9.7% 9.4% 15.6% 18.5% 28.6% 9.3%

More than 10% 4.8% 4.0% 4.9% 5.5% 3.9% 4.0% 5.5% 5.2% 6.5% 3.6% 5.6%

Other amount 4.1% 1.3% 3.5% 5.0% 4.3% 4.0% 5.5% 5.2% 5.4% 0.0% 4.7%


41

Does your organization offer a matching contribution to participant accounts?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 75.0% 67.2% 70.5% 72.2% 74.5% 79.4% 79.8% 79.2% 71.9% 82.0% 85.0%

No 24.0% 29.9% 27.7% 26.8% 25.1% 19.8% 19.1% 19.7% 27.6% 18.0% 15.0%

Unsure / Don't know

1.0% 2.9% 1.6% 1.0% 0.4% 0.9% 1.1% 1.2% 0.5% 0.0% 0.0%


42

If you provide a match, which of the following descriptions best describes your match formula?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Simple Stretch Match1 30.4% 15.7% 21.1% 32.8% 32.2% 36.6% 37.4% 41.2% 37.7% 29.2% 26.6%

Simple Traditional Match2 36.6% 43.3% 38.2% 34.3% 39.2% 30.7% 31.0% 35.3% 31.2% 40.4% 43.6%

Tiered Match3 22.4% 19.7% 25.3% 22.6% 20.1% 22.6% 22.2% 18.4% 26.1% 22.5% 20.7%

Fixed Dollar4 4.7% 5.5% 6.9% 4.7% 3.6% 5.8% 2.5% 2.2% 2.2% 5.6% 5.3%

NONE-- the match rate for our plan does not fit within these definitions

4.0% 6.3% 3.8% 3.6% 4.0% 3.9% 6.9% 2.9% 2.2% 2.2% 3.7%

Unsure / Don't know

2.0% 9.4% 4.7% 1.8% 0.9% 0.4% 0.0% 0.0% 0.7% 0.0% 0.0%


43

If you provide a match, which option best describes the effective match rate (assuming a 6% baseline)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

More than 100% of first 6% of salary

4.9% 5.9% 4.0% 4.2% 2.5% 5.2% 7.6% 5.3% 6.1% 4.5% 7.1%

100% of first 6% of salary

14.5% 13.6% 13.4% 13.5% 15.8% 14.3% 11.2% 14.3% 9.8% 22.5% 20.1%

51%-99% of first 6% of salary

34.5% 33.9% 37.3% 31.5% 30.7% 30.6% 33.5% 30.8% 37.1% 37.1% 44.6%

50% of first 6% of salary 22.4% 18.6% 21.8% 20.0% 22.0% 25.8% 26.4% 31.6% 26.5% 19.1% 13.6%

Less than 50% of first 6% of salary

17.5% 19.5% 17.6% 22.7% 22.4% 16.3% 16.8% 15.8% 16.7% 12.4% 7.1%

Other 6.2% 8.5% 5.9% 8.1% 6.5% 7.9% 4.6% 2.3% 3.8% 4.5% 7.6%


44

Excluding IRS limits, is your match subject to a limit or cap on employer matching contributions (i.e., 100% of first 3% up to $2500)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 30.5% 30.2% 31.0% 32.0% 31.2% 31.0% 28.6% 30.0% 31.3% 32.5% 26.7%

No 60.7% 50.0% 53.6% 57.0% 60.1% 63.1% 67.9% 66.2% 67.2% 62.7% 70.3%

Unsure / Don't know

8.8% 19.8% 15.5% 10.9% 8.8% 6.0% 3.6% 3.8% 1.5% 4.8% 2.9%


Does your plan match catch-up contributions?

45

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 62.2% 46.3% 60.1% 64.5% 67.8% 74.4% 62.9% 65.7% 56.0% 58.4% 50.5%

No 28.7% 28.9% 24.6% 22.7% 25.0% 21.0% 33.7% 29.9% 41.8% 38.2% 45.7%

Not applicable - plan does not allow for

catch-up contributions1.5% 4.1% 3.0% 1.5% 0.3% 0.4% 1.0% 0.7% 0.0% 2.2% 2.2%

Unsure / Don't know

7.5% 20.7% 12.3% 11.4% 6.9% 4.2% 2.5% 3.7% 2.2% 1.1% 1.6%


Does your plan match Roth contributions?

46

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 92.2% 89.9% 85.6% 95.1% 92.5% 91.5% 90.9% 95.6% 94.0% 98.6% 96.8%

No 5.1% 2.9% 8.5% 1.5% 5.2% 5.2% 7.3% 4.4% 6.0% 1.4% 3.2%

Unsure / Don't know

2.8% 7.2% 5.9% 3.4% 2.4% 3.3% 1.8% 0.0% 0.0% 0.0% 0.0%


47

Does your plan include a provision to “true up” matching contributions?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 39.7% 18.9% 22.9% 32.3% 37.4% 44.7% 46.3% 54.5% 62.3% 57.1% 58.2%

No 41.9% 40.2% 42.9% 42.5% 45.0% 45.4% 46.3% 38.1% 31.9% 36.3% 37.6%

Unsure / Don't know

18.4% 41.0% 34.2% 25.2% 17.6% 9.9% 7.4% 7.5% 5.8% 6.6% 4.2%


48

If you provide a match, how frequently are matching contributions made to plan participants?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Non-pay period -Annually

13.8% 13.9% 14.9% 14.9% 18.0% 14.6% 11.1% 12.6% 10.6% 12.1% 8.4%

Non-pay period -Quarterly

2.3% 0.7% 0.6% 2.5% 1.8% 3.0% 2.9% 4.4% 4.2% 3.3% 2.6%

Non-pay period -Monthly

1.9% 5.8% 1.9% 1.4% 1.5% 1.1% 1.4% 2.2% 2.1% 1.1% 1.6%

Non-pay period - Twice monthly (24 times per

year)0.6% 1.5% 1.1% 0.0% 1.2% 0.4% 0.0% 0.0% 0.0% 0.0% 1.1%

Non-pay period -Biweekly (26

times per year)1.7% 5.1% 1.9% 1.4% 1.2% 1.9% 1.0% 0.7% 3.5% 1.1% 0.5%

Per pay period 78.7% 73.0% 78.6% 79.7% 75.2% 78.3% 82.6% 79.3% 78.9% 78.0% 84.2%

Other frequency 1.0% 0.0% 1.1% 0.0% 1.2% 0.7% 1.0% 0.7% 0.7% 4.4% 1.6%


49

Once an employee is eligible to contribute to your DC plan, are they immediately eligible to receive matching contributions?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes - participants immediately qualify to receive matching contributions once

eligible

80.4% 88.3% 83.0% 81.3% 78.6% 79.6% 80.8% 77.4% 73.0% 85.7% 75.8%

No - eligible participants must

wait up to 6 months before qualifying to

receive matching contributions

3.8% 2.9% 3.6% 3.5% 5.0% 3.7% 3.8% 4.4% 5.0% 2.2% 3.2%

No - eligible participants must

wait more than 6 months before

qualifying to receive matching contributions

15.3% 8.8% 11.9% 15.1% 16.1% 16.4% 15.4% 17.5% 21.3% 12.1% 21.1%

Unsure / Don't know

0.5% 0.0% 1.5% 0.0% 0.3% 0.4% 0.0% 0.7% 0.7% 0.0% 0.0%


50

How long before participants are 100% vested in the match?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Immediately upon enrollment

36.8% 41.9% 35.1% 33.1% 32.3% 34.9% 38.8% 37.2% 36.6% 49.5% 45.3%

1 year or less 5.9% 10.3% 5.5% 6.3% 6.2% 3.0% 4.8% 6.6% 11.3% 4.4% 4.7%

2 years 5.9% 2.9% 3.6% 2.8% 5.3% 7.1% 9.1% 8.0% 11.3% 7.7% 7.9%

3 years 12.6% 5.9% 9.5% 10.2% 10.9% 11.9% 16.3% 15.3% 16.9% 14.3% 22.6%

4 years 3.9% 4.4% 2.7% 2.8% 4.1% 2.6% 5.3% 7.3% 3.5% 3.3% 6.3%

5 years 16.9% 11.8% 19.5% 22.5% 16.7% 19.7% 13.9% 15.3% 14.1% 11.0% 11.1%

6 years 15.9% 11.8% 19.5% 20.4% 23.2% 20.8% 11.5% 9.5% 6.3% 9.9% 2.1%

More than 6 years

0.9% 2.9% 2.5% 0.7% 0.3% 0.0% 0.0% 0.7% 0.0% 0.0% 0.0%

Unsure / Don't know

1.3% 8.1% 2.1% 1.1% 1.2% 0.0% 0.5% 0.0% 0.0% 0.0% 0.0%


51

Are matching contributions vested on a “cliff” or graded basis/schedule?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Cliff Vesting --employees becomes fully (100%) vested

at a designated time of service

27.1% 15.9% 17.5% 19.3% 21.4% 24.0% 41.2% 28.2% 45.9% 44.2% 53.5%

Graded Vesting --employee becomes partially vested in

increasing amounts over time, until

fully vested

66.5% 58.7% 70.2% 73.7% 73.3% 73.1% 57.1% 70.5% 52.7% 53.5% 46.5%

Unsure / Don't know

6.4% 25.4% 12.3% 7.0% 5.2% 3.0% 1.7% 1.3% 1.4% 2.3% 0.0%


52

What percentage of participants are deferring enough to take full advantage of the maximum match?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

All or nearly all participants

(90% or more)25.6% 36.4% 30.0% 26.0% 23.7% 18.1% 23.6% 22.5% 23.1% 23.0% 28.8%

Vast majority (75% or more)

26.7% 18.6% 22.4% 26.7% 28.2% 28.7% 25.6% 22.5% 29.9% 29.9% 36.7%

More than average (more than 50% but less

than 75%)21.1% 10.2% 16.0% 18.2% 19.0% 24.8% 29.1% 27.9% 26.9% 32.2% 19.8%

Less than average (more than 25% but less

than 50%)12.2% 11.0% 13.2% 12.4% 13.3% 13.0% 11.6% 16.3% 10.4% 12.6% 6.2%

A minority (10% to 25%)

4.8% 9.3% 5.2% 5.4% 5.7% 6.3% 3.0% 3.1% 3.7% 0.0% 2.8%

Very few (<10%) 4.0% 6.8% 6.4% 4.7% 4.4% 4.3% 2.5% 2.3% 1.5% 0.0% 1.1%

Unsure / Don't know

5.6% 7.6% 6.8% 6.6% 5.7% 4.7% 4.5% 5.4% 4.5% 2.3% 4.5%


53

What is your plan’s most common policy (often defined in the Plan Document) for handling plan forfeitures?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Used to pay general plan expenses

36.0% 23.7% 40.2% 43.2% 43.0% 34.0% 38.2% 31.1% 29.3% 18.7% 28.3%

Used to reduce future employer

contributions38.1% 24.6% 26.3% 31.9% 30.5% 42.0% 40.7% 54.5% 45.7% 60.4% 60.7%

Allocated to existing participants on a

pro-rata basis6.4% 4.2% 6.0% 8.1% 8.8% 8.0% 8.8% 3.8% 7.9% 2.2% 0.0%

Varies – we do not have a formal/ documented

policy regarding forfeitures

5.6% 12.7% 8.3% 4.8% 4.9% 3.4% 3.4% 3.0% 7.9% 5.5% 2.6%

Not applicable –all employer

contributions are immediately vested and not subject to forfeiture

9.7% 22.0% 13.6% 7.7% 9.8% 8.8% 7.8% 6.1% 4.3% 9.9% 5.8%

Other policy 1.9% 2.5% 2.5% 1.8% 1.5% 2.3% 0.0% 0.8% 2.1% 3.3% 2.1%

Unsure / Don't know

2.3% 10.2% 3.1% 2.6% 1.5% 1.5% 1.0% 0.8% 2.9% 0.0% 0.5%


54

Plan Investments


55

Which investment vehicles is your organization currently using in its DC plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Mutual Funds 93.1% 87.0% 89.9% 95.3% 94.7% 96.5% 96.3% 97.6% 93.1% 97.3% 85.1%

Separate Accounts 20.0% 20.1% 19.7% 21.3% 18.8% 18.2% 17.9% 13.2% 14.4% 14.4% 37.7%

Collective Investment Trust

18.5% 14.9% 9.4% 10.8% 10.7% 12.3% 16.7% 23.4% 27.1% 44.1% 57.5%

Exchange-Traded Funds (ETFs)

9.9% 11.0% 12.7% 14.0% 10.5% 8.8% 10.2% 6.0% 6.4% 3.6% 4.8%

Self-directed Brokerage Window

23.2% 15.6% 14.0% 14.6% 16.5% 23.3% 17.9% 31.7% 41.0% 41.4% 53.5%

Mutual Fund Window

4.6% 5.8% 6.3% 2.3% 3.0% 6.6% 3.3% 4.8% 2.7% 2.7% 6.6%


56

Which of the following investment classes/options are available to your plan participants?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Target-Date Funds 80.7% 59.2% 75.8% 84.2% 80.9% 82.5% 81.3% 85.8% 87.3% 88.3% 90.9%

Target-Risk Funds (i.e., "growth",

"conservative", etc.)40.5% 39.3% 51.5% 49.6% 45.4% 42.3% 33.7% 31.3% 26.9% 26.1% 16.0%

Balanced Funds 65.7% 53.1% 67.6% 73.5% 67.8% 71.9% 61.0% 61.9% 63.5% 64.9% 55.8%

Professionally Managed Account Service (for

participants)31.1% 20.4% 27.4% 28.6% 25.0% 32.5% 30.3% 34.1% 41.1% 38.7% 51.1%

Money Market Fund

56.9% 43.4% 56.5% 67.3% 56.1% 57.7% 61.0% 62.5% 49.7% 62.2% 47.6%

Employer Stock 5.7% 1.0% 1.4% 1.3% 0.9% 1.8% 4.9% 7.4% 8.6% 20.7% 34.6%

Stable Value Fund

57.2% 24.0% 37.1% 52.7% 61.3% 63.6% 74.2% 71.6% 73.6% 73.0% 80.5%


57

Which of the following investment classes/options are available to your plan participants?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Real Estate / REITS 26.9% 13.8% 20.5% 26.5% 33.5% 31.7% 27.0% 34.1% 31.5% 27.0% 28.1%

Alternative Investments (hedge funds, private

equity, etc.)4.8% 6.1% 5.2% 4.9% 4.6% 4.4% 5.2% 3.4% 5.6% 1.8% 4.3%

Sector Funds 11.2% 8.2% 10.3% 13.8% 12.6% 15.7% 13.1% 11.4% 8.1% 3.6% 6.1%

Commodity Funds (i.e., gold/precious metals,

oil, etc.)6.5% 3.1% 6.2% 8.1% 9.8% 7.7% 6.0% 5.1% 5.1% 2.7% 3.9%

Environmental, Social, and Governance (ESG)

fund(s)10.7% 5.6% 8.5% 9.6% 10.7% 11.2% 12.0% 10.8% 13.7% 16.2% 15.2%


58

How many separate and distinct target-date fund families are included in your fund line-up?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

One 50.5% 38.4% 35.9% 40.3% 44.5% 47.8% 58.9% 65.4% 70.3% 74.4% 73.8%

Two or more

49.5% 61.6% 64.1% 59.7% 55.5% 52.2% 41.1% 34.6% 29.7% 25.6% 26.2%


59

Which of the following (if any) index fund(s) are offered in your plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Target-date index fund(s)

54.7% 49.7% 59.1% 64.6% 55.8% 55.5% 46.0% 44.2% 51.1% 47.2% 52.0%

Domestic equity index fund

(i.e., S&P 500, Russell 2000, etc.)

68.4% 44.3% 56.3% 64.6% 70.5% 70.8% 73.0% 79.4% 78.4% 81.5% 91.6%

Domestic bond index funds

51.2% 33.5% 48.0% 54.0% 48.3% 48.3% 48.4% 53.3% 53.2% 63.0% 73.3%

International equity index fund (i.e.,

Europe/Asia, Global Market, etc.)

47.7% 28.6% 40.3% 50.4% 47.6% 54.5% 46.4% 53.3% 48.4% 56.5% 61.8%

International bond index funds

28.3% 23.2% 30.4% 31.2% 26.1% 31.0% 28.6% 27.3% 28.4% 25.0% 24.0%

Other categories of index funds

17.1% 16.8% 18.8% 14.8% 17.6% 16.3% 14.9% 15.8% 16.8% 14.8% 21.3%

NONE - plan does not offer index funds

of any type9.6% 30.8% 16.3% 7.8% 6.6% 6.3% 8.1% 6.1% 3.7% 1.9% 0.4%


60

How many investment options are offered in your defined contribution plan?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average 22.9 20.8 25.3 24.3 24.1 24.1 20.9 20.7 21.8 20.3 18.5

Median 21.0 20.5 24.0 23.0 22.0 22.0 20.0 19.0 20.0 18.0 16.0


61

What is the average number of investment options held by your DC plan participants?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Average 6.3 6.0 7.3 6.4 6.2 6.3 6.0 5.9 6.6 6.4 4.5

Median 4.0 3.0 5.0 4.0 5.0 4.0 4.0 4.3 4.2 4.0 4.0


62

How often do you formally review the investment options?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Quarterly 40.8% 18.6% 19.9% 26.6% 36.5% 47.0% 54.5% 67.3% 70.7% 71.4% 66.4%

Twice a year 16.3% 4.8% 13.5% 19.7% 22.5% 26.8% 18.2% 17.0% 11.0% 5.4% 7.1%

Annually 30.0% 42.0% 42.7% 42.6% 32.9% 19.6% 19.7% 12.1% 13.1% 17.0% 17.5%

Every 1-2 years 2.5% 4.3% 4.1% 2.9% 1.8% 1.5% 0.8% 0.6% 2.6% 0.9% 3.3%

Every 2-3 years 1.5% 1.6% 2.4% 1.3% 0.7% 0.9% 1.5% 1.2% 1.0% 0.9% 2.4%

Every 3+ years 0.7% 1.1% 1.9% 0.5% 0.5% 0.0% 0.8% 0.0% 0.5% 0.0% 0.0%

Unsure / Don't know

8.3% 27.7% 15.5% 6.4% 5.2% 4.2% 4.5% 1.8% 1.0% 4.5% 3.3%


63

Does your plan offer any of the following features/options to assist participants with creating retirement income?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Systematic Withdrawal Plan (SWP) (i.e., scheduled series of

withdrawals fromplan at retirement)

44.3% 27.7% 28.6% 32.1% 38.9% 45.7% 50.9% 50.3% 59.2% 72.4% 75.9%

IN-PLAN insurance-based products that

guarantee monthly future income (i.e., fixed/variable

annuities, QLAC, GMIBs,GMWBs, etc.)

9.2% 9.4% 7.7% 8.1% 8.2% 10.1% 9.2% 10.6% 13.5% 8.5% 10.9%

IN-PLAN managed account that also helps with retirement

income(i.e., Financial Engines Income+, MorningstarIncome Secure, etc.)

24.4% 12.8% 17.6% 19.2% 18.4% 27.4% 23.3% 25.8% 33.3% 37.7% 47.4%

IN-PLAN managed payout fund(s) (i.e., traditional mutual

funds offeringmonthly, non-guaranteed

income)

10.0% 9.9% 8.8% 7.3% 9.1% 11.9% 12.9% 10.9% 17.3% 6.9% 7.9%

OUT-OF-PLAN annuity purchase/ bidding service

5.2% 4.0% 2.9% 4.1% 3.8% 3.7% 5.4% 10.1% 4.2% 8.0% 13.7%

NONE - does not offer any retirement income solutions

47.7% 64.9% 63.4% 60.0% 53.3% 43.9% 41.5% 39.5% 29.3% 19.6% 14.6%


64

Fees/Expenses


65

What is the approximate average asset-weighted expense ratio of all investment options in your plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Less than 0.25% (<25 bps)

25.4% 28.1% 21.3% 26.7% 15.4% 23.6% 20.7% 25.4% 23.6% 32.5% 55.1%

More than 0.25-0.50% (25-50 bps)

38.5% 22.9% 31.9% 32.9% 34.8% 41.5% 47.7% 43.4% 53.5% 50.6% 38.3%

More than 0.50-0.75% (51-75 bps)

20.2% 22.9% 19.1% 18.2% 29.1% 20.1% 23.3% 25.4% 18.8% 14.5% 4.8%

% < 75bps 84.1% 74.0% 72.3% 77.8% 79.3% 85.2% 91.7% 94.3% 95.8% 97.6% 98.2%

More than 0.75%-1% (76-100 bps)

10.4% 15.6% 14.4% 15.6% 16.1% 9.6% 7.3% 4.9% 2.8% 2.4% 1.2%

More than 1%-1.5% (101-150 bps)

4.6% 6.3% 12.2% 6.2% 4.0% 4.4% 0.5% 0.0% 0.7% 0.0% 0.0%

More than 1.5% (more than 150 bps)

0.9% 4.2% 1.1% 0.4% 0.7% 0.9% 0.5% 0.8% 0.7% 0.0% 0.6%


66

Does your plan include mutual funds that pay 12b-1 and/or sub-TA fees to recordkeepers/TPAs?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 29.6% 12.7% 16.2% 20.7% 31.8% 36.5% 39.6% 44.3% 47.8% 42.3% 37.5%

No 25.0% 28.2% 22.1% 24.9% 21.5% 19.9% 20.4% 24.7% 24.2% 36.5% 47.1%

Unsure / Don't know

45.4% 59.1% 61.6% 54.4% 46.7% 43.6% 40.0% 31.0% 28.0% 21.2% 15.4%


67

Does your organization/plan have a policy to address fee equalization?*

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes – a policy is in place 42.2% 21.7% 31.3% 19.2% 34.1% 37.8% 46.9% 70.0% 51.2% 59.5% 54.4%

No – but plan to implement one in the

next 12 months5.0% 8.7% 2.0% 4.1% 5.2% 5.9% 4.1% 4.3% 5.8% 9.5% 5.1%

No – but currently trying to understand the

impact and may develop one in the

future

13.1% 13.0% 13.1% 16.4% 14.8% 10.1% 15.3% 12.9% 14.0% 11.9% 8.9%

No – and no intention to pursue a policy in the

short-term22.2% 52.2% 27.3% 35.6% 21.5% 21.8% 19.4% 7.1% 19.8% 9.5% 22.8%

Unsure / Don't Know

17.5% 4.3% 26.3% 24.7% 24.4% 24.4% 14.3% 5.7% 9.3% 9.5% 8.9%


68

Does your plan employ an “ERISA account” or “plan expense reimbursement account” to capture appropriate revenue sharing credits?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 56.4% 54.5% 38.4% 34.7% 51.1% 56.8% 59.8% 72.5% 70.1% 60.5% 72.2%

No 26.5% 27.3% 37.4% 34.7% 31.6% 20.3% 25.8% 20.3% 21.8% 25.6% 17.7%

Unsure / Don't know

17.1% 18.2% 24.2% 30.6% 17.3% 22.9% 14.4% 7.2% 8.0% 14.0% 10.1%


69

Recordkeeping Fees

Trustee Fees

How are the following plan expenses/fees paid?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Plan (via participants)

52.0% 20.9% 33.8% 44.1% 54.3% 58.5% 63.7% 70.3% 65.5% 69.2% 72.7%

Employer 33.4% 61.5% 51.8% 40.8% 33.5% 23.9% 21.5% 14.6% 17.5% 22.4% 15.1%

Both (shared) 14.6% 17.6% 14.4% 15.1% 12.3% 17.6% 14.8% 15.2% 16.9% 8.4% 12.2%

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B


45.9% 24.2% 31.5% 38.3% 45.8% 49.2% 55.0% 61.0% 58.8% 57.3% 62.6%

Employer 43.7% 63.3% 56.3% 50.5% 46.8% 40.1% 33.6% 26.2% 29.4% 34.8% 31.6%

Both (shared) 10.4% 12.5% 12.3% 11.2% 7.4% 10.7% 11.4% 12.8% 11.8% 7.9% 5.9%


70

Employee Communications & Education

Audit / Legal / Compliance Fees


All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B


33.6% 21.8% 20.0% 31.6% 32.4% 36.1% 38.8% 41.6% 39.6% 42.7% 50.5%

Employer 55.0% 69.4% 70.3% 59.5% 58.3% 48.7% 49.1% 43.0% 43.2% 46.6% 38.1%

Both (shared) 11.5% 8.9% 9.8% 8.8% 9.4% 15.2% 12.1% 15.4% 17.2% 10.7% 11.4%

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B


20.4% 17.6% 16.0% 18.4% 18.1% 17.5% 19.3% 21.2% 29.8% 28.8% 32.3%

Employer 69.5% 74.4% 77.2% 72.4% 74.9% 71.8% 66.7% 64.9% 56.1% 56.7% 54.7%

Both (shared) 10.1% 8.0% 6.8% 9.2% 7.0% 10.7% 14.0% 13.9% 14.0% 14.4% 12.9%


71

Investment Management Fees

Investment Consulting Fees


All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B


65.8% 48.9% 57.6% 63.4% 64.9% 67.8% 68.2% 69.4% 71.9% 77.7% 83.8%

Employer 22.4% 38.0% 28.2% 22.6% 25.6% 21.8% 15.7% 17.0% 18.7% 17.5% 9.1%

Both (shared) 11.8% 13.1% 14.3% 14.0% 9.5% 10.4% 16.1% 13.6% 9.4% 4.9% 7.1%

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B


45.5% 38.3% 40.7% 46.6% 47.3% 48.9% 47.2% 48.0% 45.8% 43.4% 48.2%

Employer 45.0% 51.7% 49.1% 41.2% 45.0% 42.8% 41.0% 41.9% 45.2% 47.5% 45.6%

Both (shared) 9.5% 10.0% 10.3% 12.2% 7.6% 8.3% 11.8% 10.1% 9.0% 9.1% 6.2%


72

For the prior plan year, did you calculate the total fees (all sources) paid to your DC provider/recordkeeper?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes – and plan fees were externally benchmarked

as part of the process

42.1% 15.1% 26.1% 31.9% 44.8% 50.3% 55.3% 59.1% 55.9% 60.4% 59.2%

Yes – and plan fees will be externally

benchmarked in the near future

7.2% 5.4% 5.6% 7.4% 7.0% 9.2% 5.7% 11.0% 5.6% 9.4% 9.2%

Yes – but plan fees were NOT externally

benchmark18.7% 16.9% 21.0% 22.7% 19.3% 16.1% 19.3% 11.0% 16.9% 17.0% 16.8%

No – but plan fees will be calculated in the

next 6 months3.4% 6.0% 4.9% 5.3% 3.8% 1.3% 2.0% 1.3% 3.4% 1.9% 0.5%

No – but plan fees may be calculated at

some point in the future14.2% 32.5% 24.0% 17.1% 9.8% 9.2% 7.8% 6.5% 7.9% 3.8% 6.6%

Unsure / Don't know

14.4% 24.1% 18.2% 15.6% 15.5% 13.8% 9.8% 11.0% 10.2% 7.5% 7.7%


73

How often do you formally review actual administrative costs/fees?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Annually 73.5% 67.0% 74.2% 76.6% 74.7% 74.7% 77.2% 76.2% 69.5% 75.2% 62.9%

Every 1-2 years 10.1% 6.9% 9.8% 11.3% 9.3% 12.0% 8.5% 11.0% 12.1% 7.3% 11.4%

Every 2-3 years 6.1% 2.7% 3.8% 4.6% 6.2% 6.6% 6.9% 8.5% 10.5% 4.6% 11.4%

Every 3-5 years 2.1% 0.0% 1.3% 0.5% 1.8% 2.4% 1.9% 1.8% 3.7% 4.6% 7.6%

Every 5+ years 0.8% 0.5% 0.6% 0.5% 1.4% 0.9% 0.0% 0.6% 0.5% 1.8% 1.4%

Unsure / Don't know

7.4% 22.9% 10.3% 6.5% 6.6% 3.3% 5.4% 1.8% 3.7% 6.4% 5.2%


74

Defined Contribution Providers


75

Which of the following descriptions best describes the service delivery model used by your designated plan?

All Industries

Overall <$1MM $1MM-$5MM$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Fully bundled – same recordkeeper and trustee, all of the investments are managed

by the recordkeeper

42.6% 37.7% 37.3% 46.0% 45.0% 49.6% 47.2% 40.2% 47.5% 46.0% 31.3%

Partially bundled – same recordkeeper and trustee, but not all of the investments are managed by the recordkeeper

11.2% 6.1% 5.0% 6.5% 8.7% 9.1% 15.7% 23.5% 20.8% 26.5% 22.4%

Partially unbundled – separate RK and trustee, but some of

the investments are managed by the recordkeeper

9.0% 6.1% 6.1% 10.4% 11.8% 10.2% 11.9% 11.2% 5.4% 3.5% 11.2%

Fully unbundled – separate RK and trustee, and none of the investments are managed by

the recordkeeper

20.3% 14.7% 22.4% 18.8% 19.9% 18.4% 18.5% 19.0% 18.8% 17.7% 32.7%

Unsure / Don't know

16.9% 35.5% 29.1% 18.3% 14.5% 12.7% 6.6% 6.1% 7.4% 6.2% 2.3%


76

For how long has your organization used the recordkeeper for your DC plan(s)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Less than 1 year 3.3% 6.4% 2.4% 3.9% 4.4% 2.8% 2.0% 3.1% 3.2% 4.6% 1.9%

More than 1 year but less than 3 years

13.6% 23.1% 18.1% 12.9% 13.9% 12.9% 12.0% 7.5% 10.3% 7.4% 7.1%

More than 3 years but less than 5 years

14.5% 16.8% 17.6% 17.4% 15.8% 13.8% 13.5% 8.1% 11.4% 11.1% 8.1%

More than 5 years but less than 7 years

12.4% 11.6% 13.7% 16.3% 11.8% 17.3% 11.6% 9.4% 10.8% 7.4% 4.3%

More than 7 years 56.0% 40.5% 48.0% 49.4% 54.1% 53.1% 60.6% 71.9% 64.3% 69.4% 78.6%

Unsure / Don't Know

0.1% 1.7% 0.0% 0.0% 0.0% 0.0% 0.4% 0.0% 0.0% 0.0% 0.0%


77

How often do you formally evaluate/review your recordkeeper's overall performance?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Annually 64.3% 56.2% 69.0% 73.4% 69.2% 64.4% 60.8% 57.9% 55.0% 49.1% 56.9%

Every 1 to 2 years 8.8% 8.6% 7.3% 8.8% 9.6% 11.9% 6.3% 8.5% 10.6% 10.2% 8.6%

Every 2 to 3 years 8.8% 5.9% 5.3% 6.3% 8.2% 9.4% 12.9% 15.9% 12.7% 15.7% 8.6%

Every 3 to 5 years 6.2% 2.7% 3.5% 1.4% 4.1% 5.5% 12.2% 8.5% 12.2% 10.2% 14.4%

Every 5 or more years

1.9% 1.6% 1.1% 1.4% 0.9% 2.4% 1.6% 4.3% 4.2% 1.9% 2.9%

Unsure / Don't know

10.0% 24.9% 13.7% 8.8% 8.0% 6.4% 6.3% 4.9% 5.3% 13.0% 8.6%


78

Advice and Advisers


79

Does your plan employ the services of a financial/retirement plan adviser or institutional/investment consultant to specifically assist with plan design decisions?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 70.1% 50.0% 62.5% 72.4% 73.1% 79.2% 76.2% 76.7% 73.2% 78.2% 66.5%

No 22.2% 31.3% 24.7% 22.8% 20.3% 14.8% 19.1% 21.5% 22.2% 16.4% 28.4%

Unsure / Don't know

7.6% 18.7% 12.7% 4.8% 6.6% 5.9% 4.7% 1.7% 4.5% 5.5% 5.0%


80

How long have you been working with your current retirement plan advisor?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Less than 1 year 3.7% 7.3% 3.4% 4.0% 4.4% 2.8% 0.6% 2.5% 5.3% 5.0% 5.5%

1-2 years 11.7% 24.4% 13.0% 12.6% 10.5% 10.1% 12.4% 10.7% 11.5% 3.8% 8.7%

3-4 years 16.6% 17.1% 16.7% 15.8% 16.9% 17.7% 15.7% 19.0% 17.6% 17.5% 11.8%

5-7 years 15.6% 12.2% 15.8% 14.6% 13.9% 13.3% 15.7% 20.7% 19.1% 17.5% 17.3%

7 or more years 49.8% 37.8% 48.0% 50.2% 52.2% 53.2% 53.4% 44.6% 44.3% 53.8% 52.0%

Unsure / Don't know

2.7% 1.2% 3.1% 2.8% 2.0% 2.8% 2.2% 2.5% 2.3% 2.5% 4.7%


81

Is your plan adviser a 3(21) or 3(38) fiduciary to your plan?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes – plan adviser is a 3(21) fiduciary

40.4% 21.4% 25.2% 33.3% 31.9% 38.6% 56.5% 59.3% 58.1% 62.4% 57.6%

Yes – plan adviser is a 3(38) fiduciary

19.2% 19.0% 18.1% 18.8% 23.3% 22.8% 19.9% 21.1% 16.9% 15.3% 8.3%

Yes - but plan uses separate advisers

for 3(38) and 3(21) fiduciary services

1.7% 1.2% 2.2% 2.0% 2.2% 2.8% 0.5% 2.4% 0.0% 0.0% 0.8%

No 10.0% 13.1% 13.4% 10.6% 8.3% 9.1% 6.8% 4.9% 8.8% 8.2% 15.2%

Unsure / Don't know

28.7% 45.2% 41.1% 35.3% 34.2% 26.8% 16.2% 12.2% 16.2% 14.1% 18.2%


82

What is the adviser’s fee arrangement?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

% of plan assets (bps)

55.3% 70.1% 71.3% 73.4% 70.5% 59.3% 45.0% 40.9% 24.4% 18.3% 12.1%

Per participant 8.0% 14.3% 12.1% 10.0% 8.8% 4.9% 5.6% 5.5% 5.2% 7.3% 3.0%

Project-based 4.5% 3.9% 2.9% 1.2% 1.0% 4.1% 5.0% 4.7% 5.9% 9.8% 18.2%

Monthly/annual retainer

31.8% 15.6% 12.6% 12.4% 18.6% 28.5% 45.0% 48.8% 65.9% 67.1% 71.2%

Performance: investments

1.8% 2.6% 2.6% 1.7% 0.7% 1.6% 3.3% 1.6% 2.2% 2.4% 0.0%

Performance: participation

0.9% 1.3% 1.1% 0.4% 0.7% 0.8% 1.1% 0.8% 2.2% 1.2% 0.0%

Other arrangements

6.6% 5.2% 6.0% 4.1% 6.1% 9.3% 7.2% 6.3% 8.1% 7.3% 6.8%


83

For the prior plan year, did you calculate the actual fees your plan paid to your adviser?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 56.7% 37.0% 42.3% 45.1% 57.0% 57.3% 64.4% 77.2% 67.2% 70.6% 78.9%

No 25.1% 39.5% 39.2% 35.2% 23.0% 22.2% 19.1% 12.2% 14.2% 12.9% 8.3%

Unsure / Don't know

18.2% 23.5% 18.5% 19.8% 20.0% 20.6% 16.5% 10.6% 18.7% 16.5% 12.8%


84

What type(s) of services does the financial adviser provide your plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Fund performance review & monitoring

92.9% 83.0% 90.2% 91.4% 94.3% 94.0% 95.8% 97.6% 95.7% 94.3% 92.6%

Investment menu design/fund selection

82.3% 62.5% 75.9% 76.5% 84.7% 86.1% 92.1% 89.5% 92.8% 82.8% 79.3%

Plan provider selection 60.4% 42.0% 52.6% 56.9% 64.3% 69.7% 66.1% 66.9% 63.0% 60.9% 57.0%

Investment Policy Statement (IPS)

creation/monitoring64.9% 44.3% 50.7% 57.6% 67.5% 69.3% 75.7% 82.3% 77.5% 70.1% 69.6%

Fee evaluation/ benchmarking

77.4% 55.7% 67.2% 69.0% 79.6% 80.5% 90.5% 88.7% 86.2% 82.8% 83.7%

Plan design benchmarking

61.2% 44.3% 50.9% 58.4% 59.9% 69.7% 73.0% 71.0% 64.5% 63.2% 62.2%

Education program(s) design/assessment

52.1% 45.5% 58.0% 60.4% 59.9% 66.5% 52.9% 46.0% 38.4% 23.0% 17.0%

One-on-One meetings with participants

60.6% 62.5% 79.9% 75.7% 75.2% 70.1% 52.4% 37.9% 31.9% 24.1% 11.1%

Group meeting with participants

58.0% 52.3% 75.9% 75.7% 72.3% 70.1% 50.3% 41.9% 28.3% 14.9% 7.4%

Presenting to plan committees

72.1% 34.1% 56.6% 61.6% 74.2% 82.5% 83.1% 85.5% 87.0% 85.1% 83.7%

Developing/Delivering fiduciary training

35.2% 18.2% 27.9% 28.2% 36.0% 41.8% 43.9% 46.0% 50.7% 32.2% 28.9%

Technical help with corporate transactions

31.4% 23.9% 33.1% 31.4% 36.9% 35.9% 34.9% 28.2% 26.8% 23.0% 19.3%

Legal/Regulatory/Compliance tracking

46.6% 39.8% 43.1% 41.2% 54.1% 50.6% 56.6% 50.8% 46.4% 32.2% 37.0%


85

Is investment advice offered to participants in your DC plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes - through one-on-one onsite meetings

with a financial planner/adviser outside

of the plan

45.0% 30.7% 45.6% 49.4% 56.2% 54.4% 48.7% 36.3% 35.9% 31.2% 27.7%

Yes - using a 3rd party (i.e., Financial Engines,

Morningstar, etc.) independent of our

recordkeeper

24.8% 19.8% 19.2% 20.5% 21.7% 25.5% 26.2% 31.0% 32.8% 29.4% 43.7%

Yes - using proprietary services/tools offered

through our DC provider's website, call

center, etc.

41.0% 24.3% 30.9% 40.3% 39.8% 46.8% 50.6% 49.4% 53.3% 48.6% 48.8%

Yes - through another source

3.1% 2.0% 2.9% 2.6% 3.1% 3.6% 2.7% 4.2% 4.6% 2.8% 3.8%

Total "Yes" (at least 1 source)

81.2% 62.4% 77.6% 82.9% 86.2% 89.8% 83.3% 79.8% 86.2% 76.1% 79.8%

No 18.8% 37.6% 22.4% 17.1% 13.8% 10.2% 16.7% 20.2% 13.8% 23.9% 20.2%


86

Does your organization provide formal education/guidance to participants on these topics?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Saving strategies /prioritization

48.2% 22.1% 32.2% 39.0% 49.8% 59.5% 57.7% 53.2% 63.3% 70.8% 78.0%

Budgeting tools 40.0% 18.8% 25.2% 29.6% 36.9% 44.7% 54.0% 49.1% 55.3% 69.9% 70.6%

Financial markets and investing basics

42.1% 21.6% 28.8% 32.7% 40.0% 50.5% 52.5% 49.7% 56.9% 66.4% 67.3%

Credit/Debt management (excluding student

loans/debt)25.3% 11.1% 13.8% 16.6% 20.5% 29.1% 33.6% 31.0% 38.3% 53.1% 53.3%

Student loans/ debt 14.7% 2.9% 6.8% 7.4% 9.0% 14.7% 21.1% 19.3% 28.7% 32.7% 43.0%

Home buying 14.0% 5.8% 7.6% 8.7% 13.1% 13.2% 18.5% 13.5% 22.9% 29.2% 33.2%

College saving 22.8% 11.5% 13.4% 12.0% 17.7% 26.1% 29.8% 30.4% 35.6% 44.2% 50.5%

Tax/Estate planning 22.6% 10.6% 13.4% 13.0% 19.0% 24.0% 29.8% 31.0% 35.1% 39.8% 49.5%

Retirement healthcare costs/savings options

29.1% 12.5% 18.7% 18.6% 26.0% 33.6% 38.5% 34.5% 43.1% 47.8% 57.5%

Social Security withdrawal options/strategies

25.6% 10.1% 14.6% 16.6% 21.6% 28.2% 34.7% 29.8% 43.6% 50.4% 51.9%

Rolling over past balances into the plan (for newly hired)

36.3% 19.7% 28.8% 30.6% 36.9% 42.0% 44.9% 36.8% 47.9% 42.5% 51.4%

Rollover options for terminated/separating

employees31.5% 14.9% 25.5% 24.2% 31.2% 33.9% 43.8% 33.9% 43.1% 40.7% 44.4%

NONE - we do not currently offer any education targeted

on these topics37.6% 68.3% 53.3% 46.9% 34.3% 28.5% 23.8% 29.2% 23.4% 15.9% 11.2%


87

In the past 12 months, which of the following channels has your organization used to support formal education/communication campaigns?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Email 56.8% 26.1% 45.9% 46.2% 55.6% 57.4% 71.9% 71.5% 74.6% 78.4% 81.4%

Postal mail 29.1% 9.4% 14.7% 18.2% 24.6% 30.2% 41.5% 47.1% 49.7% 50.5% 59.1%

Recordkeeper's participant website

(accessed via desktop, laptop, or mobile device)

58.6% 24.6% 38.3% 51.3% 60.0% 67.2% 73.7% 77.9% 79.2% 85.6% 80.9%

Corporate intranet / employee website

27.2% 4.4% 9.5% 14.1% 20.4% 35.5% 40.4% 48.3% 51.3% 53.2% 58.6%

Mobile apps 15.2% 2.0% 7.1% 9.2% 11.2% 19.5% 23.7% 26.2% 27.9% 33.3% 24.2%

Onsite group meetings (i.e., seminars, classes)

55.2% 20.2% 40.9% 47.7% 60.7% 67.8% 67.8% 64.0% 65.0% 69.4% 74.9%

Webinars (i.e., facilitated and interactive presentations)

27.4% 7.9% 11.9% 12.8% 22.4% 26.3% 40.7% 40.7% 49.2% 61.3% 66.0%

Videos (i.e., static, pre-produced content)

16.4% 7.9% 7.0% 6.2% 12.1% 16.3% 23.3% 28.5% 25.9% 35.1% 43.7%

Modern/Non-traditionalchannels (i.e., social media,

podcasts, text)4.1% 3.0% 1.7% 1.3% 2.9% 5.0% 3.7% 6.4% 6.6% 12.6% 11.2%

Indirect channels (i.e., in-office posters,

corporate intranet)14.5% 4.4% 9.0% 6.9% 10.1% 17.8% 21.1% 26.2% 23.9% 21.6% 28.8%

NONE - did not conduct formal C&E campaign in the

past 12 months18.3% 53.2% 29.9% 22.3% 14.7% 11.5% 7.0% 5.8% 5.6% 2.7% 4.7%


88

Which of the following custom communications strategies do you use to communicatewith participants?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Personalized Communications (i.e., messaging is

unique to the participant because it

changes based on participant data))

31.9% 24.8% 24.4% 22.9% 27.1% 29.6% 38.9% 42.3% 44.7% 44.1% 56.4%

Targeted Communications

(i.e., custom group messaging targeted at employees that matcha target demographics, like women, millennials,

etc.)

40.8% 12.1% 18.6% 22.9% 36.8% 43.2% 57.4% 64.0% 74.4% 80.2% 82.6%

General Communications

(i.e., same message is sent to all participants)

51.7% 67.0% 65.4% 65.8% 55.2% 51.8% 41.9% 38.9% 28.1% 22.5% 20.6%

Unsure / Don't know

3.7% 7.3% 5.4% 3.8% 4.5% 3.8% 1.9% 2.3% 0.0% 0.9% 0.9%


89

Plan Oversight and Administration


90

Does your organization have an investment committee for your designated DC plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes - committee includes only internal

employees42.7% 15.5% 24.9% 37.4% 45.4% 48.8% 54.1% 54.4% 55.9% 63.4% 66.7%

Yes - committee includes only people

external to our company

2.5% 3.9% 3.9% 3.2% 1.3% 1.8% 0.4% 1.2% 1.5% 3.6% 3.6%

Yes - committee includes a mix of

internal and external people

30.9% 9.9% 20.9% 31.3% 37.3% 42.3% 40.5% 40.9% 36.4% 29.5% 23.1%

Yes - but unsure of composition of

investment committee1.4% 1.1% 1.6% 2.1% 1.6% 0.9% 0.4% 0.0% 1.5% 0.9% 2.7%

No - we do not have an investment committee

18.2% 54.1% 41.1% 22.4% 10.6% 5.1% 3.5% 1.8% 2.1% 0.9% 3.1%

Unsure / Don't know

4.3% 15.5% 7.6% 3.7% 3.8% 1.2% 1.2% 1.8% 2.6% 1.8% 0.9%


91

Have you or your retirement plan committee members received or participated in any formal fiduciary training within the past 2 years (since 2017)?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 41.5% 20.0% 23.8% 30.7% 39.5% 48.1% 50.4% 60.9% 63.5% 57.7% 72.6%

No 38.4% 56.1% 50.7% 46.6% 41.9% 35.3% 32.5% 26.7% 22.1% 19.2% 9.5%

Unsure / Don't know

20.1% 23.9% 25.5% 22.7% 18.6% 16.6% 17.1% 12.4% 14.4% 23.1% 17.9%


92

Do you have a written Investment Policy Statement (IPS) for the DC plan? 1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 70.2% 43.5% 52.2% 59.5% 72.0% 79.2% 84.1% 91.2% 89.8% 83.2% 88.5%

No 13.8% 27.4% 22.1% 21.2% 11.1% 10.6% 6.4% 3.5% 4.1% 8.0% 4.9%

Unsure / Don't know

16.0% 29.0% 25.8% 19.3% 16.9% 10.3% 9.5% 5.3% 6.1% 8.8% 6.6%


93

Does your Investment Policy Statement (IPS) specifically cover target-date funds and their underlying funds?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes 61.6% 60.8% 57.6% 61.9% 57.1% 61.2% 62.5% 66.0% 66.1% 60.4% 68.4%

No 19.4% 15.2% 17.1% 15.8% 20.6% 18.6% 23.1% 20.0% 20.7% 23.1% 20.7%

Unsure / Don't know

18.9% 24.1% 25.2% 22.3% 22.2% 20.2% 14.4% 14.0% 13.2% 16.5% 10.9%


94

Does your plan employ a 3rd party (i.e., TPA, adviser, recordkeeper, etc.) as a 3(16) fiduciary?1

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Yes – and the 3rd party has broad scope

acceptance of the administrator role, to

include being named as the plan administrator in the plan document

22.9% 18.8% 24.3% 26.4% 24.8% 25.5% 22.0% 23.4% 21.9% 19.1% 11.2%

Yes – but the 3rd party has only has limited scope acceptance of some (vs. all) of the

functions of the plan administrator;

responsibility for actions outside of scope

is retained by plan officials

33.6% 28.8% 31.1% 35.9% 33.9% 35.0% 33.6% 40.9% 35.9% 37.3% 29.3%

No 34.1% 28.3% 32.3% 29.3% 33.7% 32.3% 37.1% 32.7% 35.4% 35.5% 52.6%

Unsure / Don't know

9.4% 24.1% 12.3% 8.4% 7.5% 7.1% 7.3% 2.9% 6.8% 8.2% 7.0%


95

Please indicate your level of agreement with each of the following statements (% “strongly agree" or "agree")

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Most of our employees will achieve their

retirement goals by age 65

37.5% 37.7% 32.1% 34.2% 34.0% 38.4% 39.7% 43.0% 42.2% 43.3% 50.0%

Our company has a responsibility to

improve the "financial wellness" of our employees

66.3% 63.9% 58.8% 61.4% 66.1% 68.3% 72.1% 70.6% 69.6% 74.8% 77.9%

When offered, financial wellness programs are

very useful to employees/participants

71.6% 65.6% 69.7% 69.0% 72.9% 74.4% 74.9% 66.9% 76.1% 75.5% 73.2%


96

Excluding small-balance accounts, which statement best summarizes your organization's policy/strategy regarding separated and retired participant assets?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

We actively seek to retain assets of both

retirees AND separated employees

8.8% 4.3% 4.9% 5.3% 4.5% 8.5% 12.8% 10.1% 9.1% 18.0% 28.6%

We actively seek to retain assets of retirees

but not separated employees

3.8% 5.6% 5.4% 4.5% 3.2% 3.9% 2.1% 0.6% 5.1% 3.0% 1.5%

We would prefer for separated/retired

assets to remain in plan but do not actively

encourage it

19.5% 9.9% 13.7% 14.8% 15.7% 17.0% 22.1% 30.8% 27.4% 24.0% 42.9%

We would prefer assets were rolled out of the

plan upon separation/retirement

26.9% 29.0% 35.6% 39.8% 32.9% 27.5% 17.9% 14.5% 16.0% 9.0% 4.6%

NONE -- we do not have a preference either way

regarding separate/retired assets

40.9% 51.2% 40.4% 35.6% 43.6% 43.0% 45.1% 44.0% 42.3% 46.0% 22.4%


97

Which of the following measures, if any, do you use to assess the success of your defined contribution plan?

All Industries


$5MM-$10MM

$10MM-$25MM

$25MM-$50MM

$50MM-$100MM

$100MM-$200MM

$200MM-$500MM

$500MM-$1B

>$1B

Participation rates 71.1% 37.6% 55.0% 68.5% 76.4% 80.8% 81.3% 81.1% 85.7% 85.3% 84.3%

Deferral rates 59.9% 26.4% 40.3% 52.0% 64.2% 70.8% 74.1% 74.4% 79.1% 80.7% 77.1%

% of participants meeting projected monthly retirement

income goals 10.3% 3.4% 6.0% 7.9% 10.8% 13.8% 13.9% 14.0% 16.5% 13.8% 11.9%

% of participants meeting retirement income

replacement ratio goals10.9% 5.1% 4.8% 5.3% 10.6% 13.5% 13.9% 14.0% 21.4% 19.3% 20.0%

% participants saving to match 24.6% 11.2% 14.5% 17.7% 20.0% 26.6% 28.3% 42.7% 38.5% 39.4% 44.3%

% of participants with "appropriate" asset allocations

14.8% 4.5% 6.5% 8.4% 13.9% 16.0% 17.5% 26.8% 25.8% 25.7% 29.5%

% of participants who increased deferrals in the prior 12 months

12.0% 2.8% 6.5% 7.0% 12.5% 14.4% 18.3% 15.9% 22.5% 14.7% 17.6%

% of participants using advice tools

14.6% 4.5% 5.8% 7.9% 14.4% 18.9% 16.7% 20.7% 25.3% 22.9% 32.4%

Employee satisfaction survey 16.0% 6.2% 12.7% 14.3% 17.2% 17.6% 19.1% 19.5% 18.1% 14.7% 24.8%

External/Competitive Benchmarking of Plan Design

29.5% 9.6% 16.2% 22.5% 27.8% 38.1% 39.8% 42.7% 47.3% 33.9% 46.2%

NONE - does not use any formal plan success measures

21.5% 52.8% 34.5% 23.9% 17.0% 14.4% 14.7% 9.1% 9.9% 9.2% 8.1%


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If you are interested in seeing a report similar to this one for another industry, or if you would like to see additional topics explored in this report, please contact Brian O’Keefe at (203) 979-3091 or [email protected].

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PLANSPONSOR Industry Reports currently available include:

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• 403(b) plans

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2020 Defined Contribution Plan Industry Report

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