PLANSPONSOR - October/November 2021 - 28
RESEARCH | 2021 PLANSPONSOR DC PLAN BENCHMARKING SURVEY
Geography
Industry
Recent politics might lead some sponsors to believe their plan designs
need to account for regional leanings. However, many design
features show only small differences in adoption when viewed on a
regional basis. While common plan success measures-e.g., plan
participation rates, participant deferral rates and average participant
account balances-are consistent across many regions, it is
worth noting that Southern states underperform their peers in these
areas, which suggests that sponsors in that region may want to
consider other factors when looking to improve outcomes.
Plan Participation Rate (Median Value)
Overall 87%
l East
l South
l Mid-west
l West
88%
87%
89%
82%
45%
Overall
Law
22%
Retail
Employers primarily compete for talent within an industry context
and need to offer retirement programs that attract and retain the
right people, which means finding a relevant group of peers/
competitors is a critical part of any plan benchmarking exercise. For
example, employees of retail organizations likely have needs and
expectations that differ from those in white-collar industries such as
law firms. So that gives rise to differences in plan design-e.g., law
firms are more likely to use re-enrollment* and offer profit-sharing
contributions and Roth conversions.
Offers Nonelective or Profit-Sharing Contributions*
76%
49%
24%
Industrial
Manufacturing
*These contributions generally do not require participant contributions.
Participant Deferral Rate (Median Average Value)
Overall 6.8%
l East
l South
l Mid-west
l West
7.0%
7.0%
6.9%
6.5%
48%
38%
Overall
Law
Retail
Allows In-Plan Roth Conversions for Its DC Plan/s
63%
45%
Industrial
Manufacturing
Has Used/Tried 'Re-Enrollment' in the Past 3 Years†
Participant Account Balance (Median Average Value)
Overall $80k
l East
l South
l Mid-west
l West
18%
$100k
$75k
$80k
$72k
11%
Overall
Law
9%
Retail
Industrial
Manufacturing
†Re-enrolling employees not participating in the plan, requiring them
to opt out again or else be enrolled.
15%
9%
Technology
Technology
55%
Technology
28 PLANSPONSOR.COM October - November 2021
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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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