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Employers Step It Up For 401(k) Participants
10/19/2010
As the following table shows nearly all employers have gone beyond financial education and now help participants with the allocation decision. In 2009 nearly two-thirds offered a target date fund, 60 percent made investment advice available to participants and more than 30 percent offered participants a managed account option. It is remarkable that almost 19 percent offer all three. The availability of all three types of support was higher in 2009 than in 2008.
| Percentage of all plans that offer target-date funds, professionally managed accounts, and/or investment advice to participants. | |
| Percentage of Plans* | |
| Offers All Three Options | 18.6% |
| Offers Two of the Three | 35.8% |
| Offers One of the Three | 36.5% |
| Does Not Offer Any | 9.1% |
| Total: | 100.0% |
| PSCA’s 53rd Annual Survey of Profit Sharing and 401(k) Plans | |
401(k) participants increasingly benefit from plan sponsor commitment to their employees’ retirement savings success.