PLANSPONSOR - August - September 2022 - 5

NEW RESEARCH
New Plan Benchmarking
Data Available Soon!
Our 2023 Industry Reports feature proprietary data collected in late 2022 by
PLANSPONSOR in its annual Defined Contribution Survey. The reports highlight
various plan design features and outcomes from approximately 50 industries.
You can leverage the PLANSPONSOR Industry Reports* to:
· Build trust with advisers and provide new tools to your
staff and network
· Compare plan design with peers and competitors,
and improve fiduciary oversight
· Add value to your clients by posting on your website
behind registration
Reserve your reports now for late December delivery!
2023
Defined Contribution Plan
Industry Report
Financial Services
*Subject to usage terms/compliance in licensing agreement.
For additional information, email
Robert.Reif@issmediasolutions.com
Does your organization have an investment committee for the DC plan?
All Industries
Overall <$5MM
Yes - committee includes
only INTERNAL employees
Yes - committee includes
only people EXTERNAL to
our company
Yes - committee includes a
MIX OF INTERNAL AND
EXTERNAL people
Yes - but unsure of
composition of investment
committee
No - plan does not have an
investment committee
Unsure / Don't Know
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
Overall <$5MM
$5MM -
$10MM
Financial Services
>$50MM$200MM
>$200MM$1B
>$1B
39.4%
19.7% 40.3% 48.9% 58.1% 67.9% 61.1% 45.0% 52.2% 100.0% 69.2% 75.0%
1.9% 2.2% 1.8% 1.7% 0.9% 2.8% 1.4% 0.0% 0.0% 0.0% 0.0% 12.5%
29.4% 15.6% 34.4% 43.8% 34.2% 26.4% 15.3% 15.0% 21.7% 0.0% 15.4% 12.5%
0.9% 0.5% 1.0% 1.1% 0.9% 0.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
22.3% 49.3% 17.8% 3.4% 1.7% 1.9% 18.1% 35.0% 21.7% 0.0% 7.7% 0.0%
6.1% 12.7% 4.7% 1.1% 4.3% 0.0% 4.2% 5.0% 4.3% 0.0% 7.7% 0.0%
For TKTKtk use only.
Source: PLANSPONSOR Defined Contribution Survey, 2021. Valid until December 2022.
91
What percentage of active participants are deferring enough salary to take full
advantage of the maximum employer match?
All Industries
Overall <$5MM
All or nearly all participants
(90% or more)
More than average (more
than 50% but less than 75%)
Less than average (more
than 25% but less than 50%)
A minority (between 10%
and 25%)
Very few (<10%)
Unsure/Don't Know
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
Overall <$5MM
Financial Services
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
28.7%
39.9% 22.6% 24.3% 23.3% 35.6% 40.8% 63.6% 26.7% 33.3% 30.0% 66.7%
Vast majority (75% or more) 23.3% 17.4% 22.8% 29.7% 24.4% 29.9% 23.3% 17.4% 22.8% 29.7% 24.4% 29.9%
23.1% 14.7% 25.7% 25.7% 32.2% 23.0% 23.1% 14.7% 25.7% 25.7% 32.2% 23.0%
10.7% 8.5% 12.9% 9.5% 14.4% 5.7% 10.7% 8.5% 12.9% 9.5% 14.4% 5.7%
3.8% 5.4% 4.2% 4.7% 0.0% 0.0% 3.8% 5.4% 4.2% 4.7% 0.0% 0.0%
2.9% 5.8% 2.6% 1.4% 0.0% 1.1% 2.9% 5.8% 2.6% 1.4% 0.0% 1.1%
7.5% 8.1% 9.2% 4.7% 5.6% 4.6% 7.5% 8.1% 9.2% 4.7% 5.6% 4.6%
For TKTKtk use only.
Source: PLANSPONSOR Defined Contribution Survey, 2021. Valid until December 2022.
54
What is the approximate average asset-weighted expense ratio of all investment options
in your plan?
All Industries
Overall <$5MM
Less than 0.25% (25 bps)
0.25-.50% (25-50 bps)
0.50-.75% (51-75 bps)
0.75%-1% (76-100 bps)
1%-1.5% (101-150 bps)
More than 1.5%
(more than 150 bps)
Unsure / Don't Know
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
Overall <$5MM
Financial Services
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
18.0%
10.4% 16.5% 17.2% 24.6% 47.5% 22.9% 19.0% 22.7% 28.6% 0.0% 57.1%
26.1% 17.9% 24.7% 33.9% 42.1% 32.3% 31.4% 42.9% 13.6% 14.3% 58.3% 28.6%
12.8% 9.3% 15.3% 18.4% 14.0% 3.0% 18.6% 28.6% 18.2% 14.3% 16.7% 0.0%
4.4% 4.0% 6.2% 3.4% 1.8% 2.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
2.0% 3.2% 2.3% 0.6% 0.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.2% 0.3% 0.0% 0.0% 0.0% 1.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
36.5% 54.9% 35.1% 26.4% 16.7% 14.1% 27.1% 9.5% 45.5% 42.9% 25.0% 14.3%
For TKTKtk use only. Source: PLANSPONSOR Defined Contribution Survey, 2021. Valid until December 2022.
67

PLANSPONSOR - August - September 2022

Table of Contents for the Digital Edition of PLANSPONSOR - August - September 2022

INSIGHTS
INDUSTRY ANALYSIS
RULES AND REGULATIONS
UPFRONT
Key Player
Ever Vigilant
Open Season
Simplify the Experience
Connecting One-on-One
The Cost of Protection
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - August - September 2022 - Cover1
PLANSPONSOR - August - September 2022 - Cover2
PLANSPONSOR - August - September 2022 - 1
PLANSPONSOR - August - September 2022 - INSIGHTS
PLANSPONSOR - August - September 2022 - 3
PLANSPONSOR - August - September 2022 - INDUSTRY ANALYSIS
PLANSPONSOR - August - September 2022 - 5
PLANSPONSOR - August - September 2022 - RULES AND REGULATIONS
PLANSPONSOR - August - September 2022 - 7
PLANSPONSOR - August - September 2022 - 8
PLANSPONSOR - August - September 2022 - 9
PLANSPONSOR - August - September 2022 - UPFRONT
PLANSPONSOR - August - September 2022 - 11
PLANSPONSOR - August - September 2022 - 12
PLANSPONSOR - August - September 2022 - 13
PLANSPONSOR - August - September 2022 - 14
PLANSPONSOR - August - September 2022 - 15
PLANSPONSOR - August - September 2022 - Key Player
PLANSPONSOR - August - September 2022 - 17
PLANSPONSOR - August - September 2022 - 18
PLANSPONSOR - August - September 2022 - 19
PLANSPONSOR - August - September 2022 - 20
PLANSPONSOR - August - September 2022 - 21
PLANSPONSOR - August - September 2022 - Ever Vigilant
PLANSPONSOR - August - September 2022 - 23
PLANSPONSOR - August - September 2022 - 24
PLANSPONSOR - August - September 2022 - 25
PLANSPONSOR - August - September 2022 - 26
PLANSPONSOR - August - September 2022 - 27
PLANSPONSOR - August - September 2022 - 28
PLANSPONSOR - August - September 2022 - 29
PLANSPONSOR - August - September 2022 - Open Season
PLANSPONSOR - August - September 2022 - 31
PLANSPONSOR - August - September 2022 - Simplify the Experience
PLANSPONSOR - August - September 2022 - 33
PLANSPONSOR - August - September 2022 - Connecting One-on-One
PLANSPONSOR - August - September 2022 - 35
PLANSPONSOR - August - September 2022 - The Cost of Protection
PLANSPONSOR - August - September 2022 - 37
PLANSPONSOR - August - September 2022 - FIDUCIARY FORUM
PLANSPONSOR - August - September 2022 - INSIDE ANGLE
PLANSPONSOR - August - September 2022 - PLAN PROFILE
PLANSPONSOR - August - September 2022 - Cover3
PLANSPONSOR - August - September 2022 - Cover4
https://www.plansponsordigital.com/plansponsor/august_september_2022
https://www.plansponsordigital.com/plansponsor/june_july_2022
https://www.plansponsordigital.com/plansponsor/excellenceawards_2022
https://www.plansponsordigital.com/plansponsor/april_may_2022
https://www.plansponsordigital.com/plansponsor/february_march_2022
https://www.plansponsordigital.com/plansponsor/december_2021_january_2022
https://www.plansponsordigital.com/plansponsor/october_november_2021
https://www.plansponsordigital.com/plansponsor/august_september_2021
https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
https://www.plansponsordigital.com/plansponsor/december-january_2021
https://www.plansponsordigital.com/plansponsor/october-november_2020
https://www.plansponsordigital.com/plansponsor/august-september_2020
https://www.plansponsordigital.com/plansponsor/june-july_2020
https://www.plansponsordigital.com/plansponsor/april-may_2020
https://www.plansponsordigital.com/plansponsor/february-march_2020
https://www.plansponsordigital.com/plansponsor/december-january_2020
https://www.plansponsordigital.com/plansponsor/october-november_2019
https://www.plansponsordigital.com/plansponsor/august-september_2019
https://www.plansponsordigital.com/plansponsor/june-july_2019
https://www.plansponsordigital.com/plansponsor/april-may_2019
https://www.plansponsordigital.com/plansponsor/february-march_2019
https://www.plansponsordigital.com/plansponsor/december_2018-january_2019
https://www.plansponsordigital.com/plansponsor/october-november_2018
https://www.plansponsordigital.com/plansponsor/august-september_2018
https://www.plansponsordigital.com/plansponsor/june-july_2018
https://www.plansponsordigital.com/plansponsor/april-may_2018
https://www.plansponsordigital.com/plansponsor/february-march_2018
https://www.plansponsordigital.com/plansponsor/december_2017-january_2018
https://www.plansponsordigital.com/plansponsor/november_december_2017
https://www.plansponsordigital.com/plansponsor/october_2017
https://www.plansponsordigital.com/plansponsor/september_2017
https://www.nxtbookmedia.com