2011 PLANSPONSOR Defined Contribution Survey Reveals Positive 401(k) Trends, Despite Fragile Economy
Available November 15
NEW YORK, Nov. 10, 2011 /PRNewswire/ -- The 2011 PLANSPONSOR Defined Contribution Survey, available November 15, reveals the persistence of a number of positive 401(k) trends, despite an uncertain and lackluster economic environment.
According to this year's annual survey, 90% of 401(k) and other defined contribution plans continue to contribute to their participating employee accounts. Additionally, two-thirds of 401(k) participants are saving at a sufficient level to receive the maximum contribution from their employer.
"This is surprisingly good news, given widespread trepidation that 401(k) sponsors and participants would become less committed to retirement savings plans if the economy remained fragile," said Quinn Keeler, Senior Vice President of Research for Asset International, corporate parent of PLANSPONSOR. "Employers and employees are defying the common wisdom that economic pressures would impede the savings efforts of American workers and prompt employers to cut back on benefits en masse."
The 2011 Survey attracted more than 7,000 retirement plan respondents, which is a 20% increase over the prior year. This represents the annual survey's largest response since inception and includes over half of all US plans with $1 billion or more of defined contribution (DC) assets. The respondents' combined DC assets total $1.35 trillion, close to one-third of all such assets in the US and another record for the survey. It is one of the largest survey samplings of plan sponsors available.
Keeler noted that the 2011 Survey results provide a wide range of useful intelligence for human resources and employee benefits professionals, policy makers, retirement plan advisers, asset managers, recordkeepers, third-party administrators and other constituencies with an interest in the wellbeing and direction of US retirement plans. "This year's Survey touches upon key industry issues such as fees and the state of Roth 401(k)s, and also includes a candid assessment of the major 401(k) providers," she said.
The 2011 PLANSPONSOR Defined Contribution Survey will be available on November 15 at www.plansponsor.com.
About Asset International
Asset International is a privately-held provider of information and technology to global pension funds, asset managers, financial advisers, banking service providers, and other financial institutions in the private and public sector. Its industry-leading brands include Strategic Insight, SIMFUND, Plan For Life, PLANSPONSOR, PLANSPONSOR Europe, PLANADVISER, aiCIO, Global Custodian, and The Trade. The company has offices in New York, Hong Kong, London, Melbourne and Stamford, CT. For additional information please contact Quinn Keeler at [email protected].
SOURCE Asset International
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