PLANSPONSOR - October/November 2021 - 27

RESEARCH | 2021 PLANSPONSOR DC PLAN BENCHMARKING SURVEY
Plan Types
Plan Providers
The 401(k) plan is by far the most common employer-sponsored
retirement plan. Not surprisingly, this also means that 401(k) plan
benchmarking data is often easier to come by than similar data
focused on 403(b), 457 or other retirement plans. However,
plan types-like industries-are commonly connected to specific
employee populations. They are also subject to different regulatory
requirements. Combined, these factors can lead to different plan
design considerations, most notably in areas related to eligibility,
retirement income creation, and in-person advice and guidance.
Helps Participants Create/Manage Retirement Income
l 401(k) l 403(b) l	457
67%
61%
45%
11%
Offers systematic
withdrawals at retirement
29% 27%
Offers in-plan retirement
income products
Makes Full-Timers Eligible to Participate in the Plan ...
l 401(k) l 403(b) l	457
83%
59%
Provider D
25%
... Immediately
upon hire
28%
Provider E
6%
4%
Provider F
... After 1 or more years
of employment
Clients That Offer Automatic Escalation*
Offers Participants One-on-One Meetings With
Financial Planner/Adviser Outside of the Plan
Provider A
Provider B
Provider C
51%
401(k)
66%
403(b)
60%
457
*i.e., automatic deferral increases
PLANSPONSOR.COM October - November 2021 27
Provider D
Provider E
Provider F
52%
63%
75%
41%
18%
50%
Many DC plan recordkeepers service thousands of plans, allowing
them to construct proprietary benchmarks based on actions their
clients take. But this may also exhibit " hidden " bias, as clients share
the common trait of having self-selected into the same grouping-
e.g., the charts below show adoption of certain plan features based
on responses from six recordkeepers similar in survey counts and
response profiles. The range of values highlights the potential limitations
of single-provider benchmarks and reinforces the key role
independent, cross-provider sources play in the process.
Clients That Offer DC Plan and Health Savings Accounts
Provider A
Provider B
Provider C
Provider D
Provider E
Provider F
47%
51%
74%
54%
38%
52%
Clients That Use a Default Deferral Rate of <3% of Salary
42%
Provider A
Provider B
Provider C
50%
42%
39%
49%
58%
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PLANSPONSOR - October/November 2021

Table of Contents for the Digital Edition of PLANSPONSOR - October/November 2021

INSIGHTS
INDUSTRY ANALYSIS
RULES & REGULATIONS
UPFRONT
To Attract and Retain
2021 DC Plan Benchmarking Survey
Investment Appraisal
The Evergreen Discussion
Retirement, by Auto-Pilot
FIDUCIARY FORUM A Useful Gauge
INSIDE ANGLE ESG for Fiduciaries
PLAN PROFILE Picture of Health
PLANSPONSOR - October/November 2021 - Cover1
PLANSPONSOR - October/November 2021 - Cover2
PLANSPONSOR - October/November 2021 - 1
PLANSPONSOR - October/November 2021 - 2
PLANSPONSOR - October/November 2021 - 3
PLANSPONSOR - October/November 2021 - INSIGHTS
PLANSPONSOR - October/November 2021 - 5
PLANSPONSOR - October/November 2021 - INDUSTRY ANALYSIS
PLANSPONSOR - October/November 2021 - 7
PLANSPONSOR - October/November 2021 - RULES & REGULATIONS
PLANSPONSOR - October/November 2021 - 9
PLANSPONSOR - October/November 2021 - 10
PLANSPONSOR - October/November 2021 - 11
PLANSPONSOR - October/November 2021 - UPFRONT
PLANSPONSOR - October/November 2021 - 13
PLANSPONSOR - October/November 2021 - 14
PLANSPONSOR - October/November 2021 - 15
PLANSPONSOR - October/November 2021 - 16
PLANSPONSOR - October/November 2021 - 17
PLANSPONSOR - October/November 2021 - To Attract and Retain
PLANSPONSOR - October/November 2021 - 19
PLANSPONSOR - October/November 2021 - 20
PLANSPONSOR - October/November 2021 - 21
PLANSPONSOR - October/November 2021 - 2021 DC Plan Benchmarking Survey
PLANSPONSOR - October/November 2021 - 23
PLANSPONSOR - October/November 2021 - 24
PLANSPONSOR - October/November 2021 - 25
PLANSPONSOR - October/November 2021 - 26
PLANSPONSOR - October/November 2021 - 27
PLANSPONSOR - October/November 2021 - 28
PLANSPONSOR - October/November 2021 - 29
PLANSPONSOR - October/November 2021 - Investment Appraisal
PLANSPONSOR - October/November 2021 - 31
PLANSPONSOR - October/November 2021 - 32
PLANSPONSOR - October/November 2021 - 33
PLANSPONSOR - October/November 2021 - The Evergreen Discussion
PLANSPONSOR - October/November 2021 - 35
PLANSPONSOR - October/November 2021 - Retirement, by Auto-Pilot
PLANSPONSOR - October/November 2021 - 37
PLANSPONSOR - October/November 2021 - FIDUCIARY FORUM A Useful Gauge
PLANSPONSOR - October/November 2021 - INSIDE ANGLE ESG for Fiduciaries
PLANSPONSOR - October/November 2021 - PLAN PROFILE Picture of Health
PLANSPONSOR - October/November 2021 - Cover3
PLANSPONSOR - October/November 2021 - Cover4
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