Plan Types Contributions The 401(k) is the most common employer-sponsored retirement plan. But 403(b) and 457 plans, which are associated with specific employee populations and subject to their own sets of regulatory requirements, are more likely to be structured for retirees. They are much more likely to offer immediate eligibility to participate upon hire and systematic withdrawals at retirement. 403(b) plans especially are more likely to supply retirement income products, perhaps because legacy plans traditionally offered such options to teachers. All plan types, however, show the same level of in-person advice and guidance opportunities for participants. Helps Participants Set Up/Manage Retirement Income n 401(k) n 403(b) n 457 53% 53% 35% 7% Offers systematic withdrawals at retirement 14% 8% 5% Offers in-plan retirement income products Offers Plan/s With Immediate Eligibility Upon Hiring 63% 60% 24% 401(k) 403(b) 457 Offers Participants One-on-One Meetings With Financial Planner/Adviser Outside of the Plan Profit-Sharing/Non-Matching Contribution Rates <3% Exactly 3% >3% - 5% >5% - 7% 51% 401(k) 55% 403(b) 52% >7% - 10% >10% 457 Other 6% 14% 9% 9% 21% 19% 22% Offers a Matching Contribution l Yes l No l Unsure 49% Employer contributions that do not require participant deferrals are offered by about half of DC plans. Unlike matching contributions, which are only given to participants actively deferring into the DC plan, nonelective and profit-sharing contributions are allocated to all employees. The most popular contribution structure is a " pro-rata " profit-sharing plan in which each participant receives an allocation equal to a uniform percentage of the person's compensation. One-quarter of plans are using safe harbor contributions, which allow them to provide employees with a minimum saving amount and avoid going through annual discrimination testing. Offers a Nonelective or Profit-Sharing Contribution l Yes l No l Unsure 46% 2% 74% 24% PLANSPONSOR.COM December 2022 - February 2023 23http://www.PLANSPONSOR.COM