PLANSPONSOR - March - April 2023 - 14

30TH ANNIVERSARY
Each workforce is different-how
plans have changed to accommodate
an employer's unique needs
T
he many revisions in regulations that plan sponsors have faced over the past three
decades-and the plan design adjustments they have made in response-have generally
focused on improving participant outcomes.
Whereas the traditional 401(k) worked for a relatively narrow swathe of employers-those
large enough to balance highly and non-highly compensated employees-a variety of plan
types have arisen to attempt to cover the rest. Retirement plan design now, in fact, addresses
much more than retirement saving-today's vehicles offer options ranging from emergency
funds to student loan matches to programs for drawing down savings, once the participant no
longer works.
A major step was creating plans for the small employer.
Safe Harbor Plans
The Small Business Job Protection Act of 1996 introduced safe harbor plans, which allow plan
sponsors to avoid the onerous nondiscrimination testing required with traditional 401(k) plans.
In 2021, 45% of plan sponsors had a safe harbor plan, according to the Plan Sponsor Council
of America. Its data show that the share of sponsors using a safe harbor plan goes up as the size
of the plan goes down. Smaller businesses have embraced safe harbor plans as a reduced-risk
plan design that still lets them provide retirement benefits to employees. Forty-nine percent of
plans for employers with 50 through 199 employees are safe harbor; this compares with 39% for
14 PLANSPONSOR.COM March - April 2023
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PLANSPONSOR - March - April 2023

Table of Contents for the Digital Edition of PLANSPONSOR - March - April 2023

INSIGHTS
PARTICIPANT ANALYSIS
RULES & REGULATIONS
UPFRONT
PLAN DESIGN
PARTICIPANTS
INVESTMENTS
PLAN ACCESS
GOVERNANCE
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - March - April 2023 - Cover1
PLANSPONSOR - March - April 2023 - Cover2
PLANSPONSOR - March - April 2023 - 1
PLANSPONSOR - March - April 2023 - INSIGHTS
PLANSPONSOR - March - April 2023 - 3
PLANSPONSOR - March - April 2023 - PARTICIPANT ANALYSIS
PLANSPONSOR - March - April 2023 - 5
PLANSPONSOR - March - April 2023 - RULES & REGULATIONS
PLANSPONSOR - March - April 2023 - 7
PLANSPONSOR - March - April 2023 - UPFRONT
PLANSPONSOR - March - April 2023 - 9
PLANSPONSOR - March - April 2023 - 10
PLANSPONSOR - March - April 2023 - 11
PLANSPONSOR - March - April 2023 - 12
PLANSPONSOR - March - April 2023 - 13
PLANSPONSOR - March - April 2023 - PLAN DESIGN
PLANSPONSOR - March - April 2023 - 15
PLANSPONSOR - March - April 2023 - 16
PLANSPONSOR - March - April 2023 - 17
PLANSPONSOR - March - April 2023 - 18
PLANSPONSOR - March - April 2023 - 19
PLANSPONSOR - March - April 2023 - PARTICIPANTS
PLANSPONSOR - March - April 2023 - 21
PLANSPONSOR - March - April 2023 - 22
PLANSPONSOR - March - April 2023 - 23
PLANSPONSOR - March - April 2023 - 24
PLANSPONSOR - March - April 2023 - 25
PLANSPONSOR - March - April 2023 - INVESTMENTS
PLANSPONSOR - March - April 2023 - 27
PLANSPONSOR - March - April 2023 - 28
PLANSPONSOR - March - April 2023 - 29
PLANSPONSOR - March - April 2023 - PLAN ACCESS
PLANSPONSOR - March - April 2023 - 31
PLANSPONSOR - March - April 2023 - 32
PLANSPONSOR - March - April 2023 - 33
PLANSPONSOR - March - April 2023 - GOVERNANCE
PLANSPONSOR - March - April 2023 - 35
PLANSPONSOR - March - April 2023 - 36
PLANSPONSOR - March - April 2023 - 37
PLANSPONSOR - March - April 2023 - FIDUCIARY FORUM
PLANSPONSOR - March - April 2023 - INSIDE ANGLE
PLANSPONSOR - March - April 2023 - PLAN PROFILE
PLANSPONSOR - March - April 2023 - Cover3
PLANSPONSOR - March - April 2023 - Cover4
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https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
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https://www.plansponsordigital.com/plansponsor/february-march_2018
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