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2011 403(b) Plan Survey - Table of Contents

Respondent Demographics

Table 1
Respondents by plan size

Table 2
Respondents by industry and plan size

Table 3
ERISA status of organizations by plan size

Table 4
ERISA status of organizations by industry type

Table 5
Percentage of organizations with non-ERISA plans that are considering changing to ERISA plans

Table 6
Percentage of organizations that have a frozen non-ERISA plan in addition to their active ERISA plan(s)

Table 7
Type of plan agreement by plan size

Table 8
Percentage of organizations that are public (government) or private institutions by plan size

Table 9
Percentage of organizations that are public (government) institutions by industry

Table 10
Percentage of organizations offering defined benefit plans to essentially the same group of employees as the plan reported

Table 11
Percentage of organizations offering defined benefit plans to essentially the same group of employees as the plan reported by industry type

Table 12
Employees eligible to participate in the 403(b) plan as a percentage of organizations’ total U.S. employees by plan size

Table 13
Employees eligible to participate in the 403(b) plan as a percentage of organizations’ total U.S. employees by industry

Table 14
Types of employees eligible to participate in the plan by plan size

Table 15
Employee groups eligible to participate in the plan (for plans that limit eligibility) for organizations that employ those types of employees by plan size

Table 16
Age requirements for participation by plan size

Table 17
Service requirements for participation by plan size

Organization Contributions

Table 18
Average and median organization contribution per active participant for organizations that make contributions by plan size

Table 19
Average organization contribution per active participant for organizations that make contributions by industry

Table 20
Plan design methods used to determine organization contributions by plan size

Table 21
Plan design methods used to determine organization contributions by industry

Table 22
Percentage of organizations that made contributions when provided for in the plan by types of contributions offered and plan size

Table 23
Percentage of organizations that made contributions when provided for in the plan by types of contributions offered and industry

Table 24
Effective matching contributions by organizations with employer matching formulas

Table 25
Definition of compensation by plan size

Table 26
Frequency of non-matching organization contributions by plan size

Table 27
Frequency of matching organization contributions by plan size

Table 28
Percent of organizations making true-up matches or using year-to-date compensation formulas (for plans in which matches are not made annually) by plan size

Table 29
Vesting schedules by plan size and contribution type

Participant Contributions

Table 30
Plans permitting participant contributions by tax basis and plan size

Table 31
Percentage of plans requiring employees to contribute to the plan as a condition of employment

Table 32
Average percentage of eligible employees that had an account balance at the end of the 2010 plan year by plan size

Table 33
Average percentage of eligible employees that had an account balance at the end of the 2010 plan year by industry

Table 34
Average percentage of eligible employees that contributed to the plan in 2010 by plan size

Table 35
Average percentage of eligible employees that contributed to the plan in 2010 by industry

Table 36
Average percentage of eligible employees that contributed to the plan in 2010 by organization contribution formula

Table 37
Average and median account balances of active 403(b) plan participants by plan size

Table 38
Average account balance of active 403(b) plan participants by industry

Table 39
Percentage of plans permitting Roth after-tax contributions by plan size

Table 40
Percentage of participants that made Roth after-tax contributions when permitted by plan size

Table 41
Percentage of plans permitting catch-up contributions to participants age 50 and over by plan size

Table 42
Percentage of plans permitting catch-up contributions to participants age 50 and over by industry type

Table 43
Percentage of plans matching catch-up contributions (when catch-ups are permitted) by plan size

Table 44
Percentage of participants age 50 and over who made catch-up contributions (if permitted) by plan size

Investments

Table 45
Number of investment funds available for organization contributions by plan size

Table 46
Number of investment funds available for participant contributions by plan size

Table 47
Average number of investment fund options by plan size

Table 48
Average number of investment fund options by industry type

Table 49
Types of investments allowed in the plan

Table 50
Percentage of plans offing a target-date (lifecycle) fund as an investment option

Table 51
Type of target-date fund used by plans offering them

Table 52
Percentage of organizations that have a default option for participants who enroll in the plan but do not pick an investment option

Table 53
Default investment option offered in plans that have one for participants who enroll in the plan but do not pick an investment option

Table 54
Percentage of plans restricted to investment options managed by their recordkeeper by plan size

Table 55
Parties determining how contributions are distributed to investment funds

Table 56
Frequency with which participants may initiate fund transfers by plan size

Table 57
Percentage of plans that limit the number of transfers a participant may complete by plan size

Table 58
Frequency participant accounts are valued by plan size

Investment Monitoring

Table 59
Percentage of plans reporting having an investment policy statement by plan size

Table 60
Percentage of plans reporting having an investment policy statement by industry

Table 61
Investment monitoring frequency by plan size

Table 62
Percentage of plans that retain an independent investment advisor to assist with fiduciary responsibility (separate from recordkeeper) by plan size

Table 63
Percentage of plans that retain an independent investment advisor to assist with fiduciary responsibility (separate from recordkeeper) by industry type

Investment Advice

Table 64
Percentage of organizations offering investment advice by plan size

Table 65
Percentage of organizations offering investment advice by industry type

Table 66
Type of investment advice offered by organizations offering investment advice by plan size

Table 67
Provider of one-on-one counseling, when offered

Table 68
Percentage of participants who utilize investment advice when it is offered by plan size

Table 69
Payment of investment advice when advice is offered by plan size

Automatic Enrollment

Table 70
Percentage of plans with automatic enrollment by plan size

Table 71
Percentage of plans with automatic enrollment by industry type

Table 72
Default investment option for automatic deferrals

Table 73
Default deferral percentage in plans with automatic enrollment

Table 74
Percentage of plans with automatic enrollment that automatically increase default deferrals over time

Loans

Table 75
Plans permitting loans by plan size

Table 76
Plans permitting loans by industry type

Table 77
Percentage of plans permitting multiple loans by plan size

Table 78
Number of loans allowed in plans permitting multiple loans

Table 79
Minimum loan requirements by plan size

Hardship Withdrawals

Table 80
Plans permitting hardship withdrawals by plan size

Table 81
Plans permitting hardship withdrawals by plan industry

Table 82
Reasons for permitting hardship withdrawals by plan size

Table 83
Average percentage of participants that took a hardship withdrawal in 2010 when permitted by plan size

Table 84
Average percentage of participants that took a hardship withdrawal in 2010 when permitted by industry type

Table 85
Processing of hardship withdrawals by plan size

Participant Education and Communication

Table 86
Type of materials used to educate participants by plan size

Table 87
Type of materials used to educate participants by industry for the most used types of materials

Plan Administration Practices

Table 97
Participant behaviors monitored by plan size

Table 98
Contribution factors other than earnings by plan size

Table 99
Forfeiture allocation policies by plan size

Table 100
Plan recordkeepers by plan size

Table 101
Payer of plan expenses for all plans

Table 102
Percentage of organizations currently re-evaluating how plan expenses are allocated

Table 103
Number of plan providers used by plan size

Table 104
Number of plan providers used by industry type

Table 105
Amount of time since organization last issued an RFP by plan size

Table 106
Amount of time since organization last issued an RFP by industry type

Table 107
Percentage of organizations planning on issuing an RFP within the next 12 months by plan size

Table 108
Percentage of organizations that made plan changes in 2010 by plan size

Table 109
Percentage of organizations that made plan changes in 2010 by industry type

Table 110
Types of changes made to the plan in 2010 for plans that made them