2018 defined contribution plan industry...
TRANSCRIPT
2018 Defined Contribution PlanIndustry Report
Healthcare Organizations (for profit)
For Plan Sponsor Use Only
Not For Use with Participants or the General Public. For FINRA purposes,
‘Institutional’ refers to plans with at least 100 participants.
This report is for informational purposes only and should not be construed as a
recommendation, offer or solicitation to buy or sell any specific investment.
Securities offered through LPL Financial, Member FINRA/SIPC.
Expressly prepared for:
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Summary of Findings 2
Plan Types and Design Features 6
Plan Loans & Withdrawals 13
“Auto” Features 22
Participation and Eligibility 29
Employer Match 34
Plan Investments 49
Fees/Expenses 57
Defined Contribution Providers 67
Advice and Advisers 70
Plan Oversight and Administration 78
Table of Contents
1
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Summary of Findings
2
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
About this report
The PLANSPONSOR 2017 Defined Contribution (DC) Survey results incorporate the responses of 3,437 plan sponsors from a broad variety of U.S. industries. Of the 3,437:
• 1,242 (36.1%) are “Micro” plans (<$5 million in DC assets) • 1,211 (35.2%) are “Small” plans ($5 million-<$50 million)• 416 (12.1%) are “Mid” plans ($50-<$200 million)• 327 (9.5%) are “Large” plans ($200 million-<$1 billion)• 241 (7.0%) are “Mega” plans (>$1 billion)
Within the survey, 238 respondents are from Healthcare Organizations (for profit). Of these Healthcare Organizations (for profit) respondents, 115 (48.3%) are “Micro” plans, 71 (29.8%) are “Small” plans, 32 (13.4%) are “Mid” plans, 11 (4.6%) are “Large” plans, and 9 (3.8%) are “Mega” plans.
This report compares the survey responses of plan sponsors from Healthcare Organizations (for profit) with those of respondents from All Industries, which includes Healthcare Organizations (for profit).
3
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Overall Rankings: Top 50% industries in key plan areasParticipation Rate Average Account Balance Average Deferral Rate Immediate Eligibility Immediate Vesting
1 Financial Services [88.4%] Law Firm [$223,667] Engineering [8.0%] Govt: City/Municipal [82.6%] Education: K-12, Preschool [64.9%]
2 Utilities [88.0%] Utilities [$148,744] Fortune 1000 [7.9%] Utilities [80.6%] Pharmaceuticals [53.8%]
3 Insurance/Reinsurance [87.7%] Research/Development [$143,769] Financial Services [7.8%] Govt: County/State/Federal [79.2%] Education: Higher Ed [51.4%]
4 Labor Unions [87.6%] Fortune 1000 [$130,081] Utilities [7.5%] Education: K-12, Preschool [75.8%] Govt: City/Municipal [50.0%]
5 Accounting [87.6%] Oil & Gas/Energy [$121,414] Research/Development [7.5%] Telecommunications [72.7%] Fortune 1000 [50.0%]
6 Consulting [86.9%] Engineering [$119,930] Labor Unions [7.5%] Fortune 1000 [71.1%] Labor Unions [50.0%]
7 Membership [86.7%] Consulting [$119,635] Education: Higher Ed [7.5%] Oil & Gas/Energy [69.4%] Chemicals/Mining [50.0%]
8 Law Firm [86.5%] Financial Services [$119,409] Oil & Gas/Energy [7.4%] Healthcare (not for profit) [65.9%] Membership [50.0%]
9 Holding Co's/Inv Banking [86.5%] Chemicals/Mining [$117,903] Technology [7.4%] Education: Higher Ed [65.8%] Utilities [48.3%]
10 Architecture [85.8%] Pharmaceuticals [$117,565] Aerospace/Defense [7.4%] Labor Unions [65.2%] Banking: Commercial [47.8%]
11 Credit Unions [85.7%] Healthcare (for profit) [$115,992] Law Firm [7.3%] Research/Development [64.3%] Accounting [46.8%]
12 Chemicals/Mining [84.9%] Insurance/Reinsurance [$113,163] Insurance/Reinsurance [7.3%] Pharmaceuticals [64.3%] Oil & Gas/Energy [46.3%]
13 Telecommunications [84.5%] Accounting [$112,525] Chemicals/Mining [7.2%] Technology [59.7%] Insurance/Reinsurance [43.3%]
14 Engineering [84.5%] Distribution [$111,123] Pharmaceuticals [7.2%] Aerospace/Defense [53.7%] Advertising/Marketing [42.9%]
15 Banking: Commercial [84.0%] Architecture [$109,380] Environmental [7.2%] Religious/Social Svcs [50.0%] Financial Services [42.5%]
16 Auto Manufacturing [83.7%] Advertising/Marketing [$107,166] Consulting [7.1%] Chemicals/Mining [49.0%] Religious/Social Svcs [41.4%]
17 Non-Profit Orgs [83.0%] Technology [$105,869] Architecture [7.1%] Media/Communications [48.5%] Agriculture [41.0%]
18 Pharmaceuticals [83.0%] Membership [$103,181] Membership [7.1%] Consulting [47.3%] Manufacturing: Industrial [40.1%]
19 Environmental [82.9%] Aerospace/Defense [$101,930] Accounting [6.9%] Insurance/Reinsurance [43.6%] Environmental [39.1%]
20 Oil & Gas/Energy [81.5%] Real Estate [$101,714] Govt: City/Municipal [6.9%] Non-Profit Orgs [43.4%] Healthcare (for profit) [38.0%]
21 Fortune 1000 [81.2%] Consumer Services [$93,025] Non-Profit Orgs [6.8%] Holding Co's/Inv Banking [43.3%] Consulting [37.5%]
22 Distribution [81.2%] Banking: Commercial [$92,628] Credit Unions [6.8%] Transportation/Airlines [41.7%] Consumer Services [37.5%]
23 Media/Communications [80.9%] Labor Unions [$91,478] Media/Communications [6.6%] Financial Services [40.9%] Architecture [37.1%]
24 Technology [80.8%] Building/Construction [$91,342] Healthcare (for profit) [6.5%] Engineering [40.4%] Non-Profit Orgs [36.8%]
4
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Overall Rankings: Bottom 50% industries in key plan areas
5
Participation Rate Average Account Balance Average Deferral Rate Immediate Eligibility Immediate Vesting
25 Manufacturing: Consumer [80.7%] Telecommunications [$91,226] Real Estate [6.5%] Environmental [35.7%] Govt: County/State/Federal [36.2%]
26 Research/Development [80.1%] Environmental [$91,075] Banking: Commercial [6.5%] Membership [34.8%] Business Services [36.0%]
27 Manufacturing: Industrial [79.8%] Media/Communications [$88,676] Holding Co's/Inv Banking [6.5%] Manufacturing: Consumer [32.6%] Aerospace/Defense [35.9%]
28 Agriculture [78.9%] Manufacturing: Consumer [$88,667] Auto Manufacturing [6.5%] Agriculture [32.6%] Manufacturing: Consumer [35.0%]
29 Wholesale [78.8%] Manufacturing: Industrial [$86,752] Manufacturing: Consumer [6.4%] Banking: Commercial [32.0%] Real Estate [34.5%]
30 Consumer Services [77.7%] Agriculture [$85,974] Agriculture [6.4%] Architecture [31.8%] Distribution [33.8%]
31 Building/Construction [77.3%] Equipment [$83,077] Business Services [6.4%] Auto Manufacturing [31.0%] Research/Development [33.3%]
32 Healthcare (for profit) [76.8%] Non-Profit Orgs [$80,903] Building/Construction [6.3%] Advertising/Marketing [30.2%] Holding Co's/Inv Banking [33.3%]
33 Equipment [76.7%] Education: Higher Ed [$79,472] Manufacturing: Industrial [6.3%] Accounting [29.9%] Law Firm [32.9%]
34 Aerospace/Defense [76.7%] Wholesale [$79,389] Distribution [6.2%] Restaurants/Food Service [28.6%] Hotels/Gaming [32.8%]
35 Advertising/Marketing [76.7%] Credit Unions [$76,148] Advertising/Marketing [6.2%] Business Services [26.8%] Technology [32.7%]
36 Business Services [75.7%] Holding Co's/Inv Banking [$75,592] Wholesale [6.2%] Credit Unions [26.4%] Retail [32.3%]
37 Real Estate [74.3%] Business Services [$74,862] Govt: County/State/Federal [6.2%] Consumer Services [23.8%] Engineering [32.1%]
38 Healthcare (not for profit) [74.2%] Govt: City/Municipal [$73,661] Consumer Services [6%] Law Firm [23.3%] Restaurants/Food Service [30.8%]
39 Transportation/Airlines [73.0%] Transportation/Airlines [$64,657] Religious/Social Svcs [5.9%] Manufacturing: Industrial [23.0%] Building/Construction [30.5%]
40 Religious/Social Svcs [72.8%] Auto Manufacturing [$63,250] Transportation/Airlines [5.8%] Healthcare (for profit) [21.7%] Wholesale [29.0%]
41 Auto Dealerships/Svc [68.4%] Retail [$61,424] Retail [5.8%] Distribution [21.6%] Auto Manufacturing [27.3%]
42 Educ: K-12, Preschool [68.3%] Auto Dealerships/Svc [$60,303] Healthcare (not for profit) [5.8%] Real Estate [20.9%] Healthcare (not for profit) [26.6%]
43 Education: Higher Ed [67.9%] Govt: County/State/Fed [$57,412] Telecommunications [5.7%] Equipment [20.7%] Credit Unions [25.6%]
44 Govt: City/Municipal [67.8%] Hotels/Gaming [$56,925] Equipment [5.7%] Building/Construction [17.5%] Media/Communications [25.0%]
45 Hotels/Gaming [67.3%] Healthcare (not for profit) [$48,501] Hotels/Gaming [5.7%] Retail [17.1%] Transportation/Airlines [22.6%]
46 Retail [66.3%] Restaurants/Food Service [$47,346] Restaurants/Food Service [5.7%] Wholesale [13.5%] Telecommunications [20.0%]
47 Govt: County/State/Fedl [64.7%] Religious/Social Svcs [$45,783] Education: K-12, Preschool [5.7%] Hotels/Gaming [8.2%] Equipment [20.0%]
48 Restaurants/Food Service [58.6%] Educ: K-12, Preschool [$45,100] Auto Dealerships/Svc [5.1%] Auto Dealerships/Svc [7.0%] Auto Dealerships/Svc [9.1%]
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Plan Types and Design Features
6
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What type of DC plan does your organization offer?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
401(k) 87.8% 92.3% 88.6% 79.8% 81.0% 83.8% 94.1% 95.7% 93.0% 93.8% 81.8% 100.0%
403(b) 9.4% 4.8% 9.5% 14.9% 15.9% 13.7% 2.1% 0.0% 0.0% 6.3% 18.2% 11.1%
457 9.9% 3.5% 9.1% 15.4% 20.8% 22.8% 3.4% 0.9% 0.0% 6.3% 36.4% 11.1%
Money Purchase 2.3% 1.0% 1.8% 3.4% 6.4% 4.1% 2.1% 1.7% 0.0% 0.0% 9.1% 22.2%
Profit Sharing 20.0% 18.0% 22.5% 22.8% 20.8% 11.2% 31.1% 24.3% 40.8% 31.3% 45.5% 22.2%
ESOP 3.1% 1.0% 3.8% 3.6% 5.5% 7.1% 1.7% 0.0% 1.4% 6.3% 9.1% 0.0%
KSOP 0.3% 0.1% 0.5% 0.2% 0.0% 1.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Nonqualified Deferred
Compensation (NQDC)
10.2% 1.4% 4.6% 17.8% 30.6% 42.3% 7.1% 0.0% 2.8% 12.5% 36.4% 77.8%
SEP 0.4% 0.3% 0.5% 0.2% 0.0% 0.8% 0.8% 0.9% 0.0% 0.0% 0.0% 11.1%
SIMPLE IRA 0.6% 0.6% 0.9% 0.2% 0.3% 0.0% 1.3% 0.9% 2.8% 0.0% 0.0% 0.0%
Other 3.7% 2.3% 3.3% 4.3% 5.8% 9.1% 3.4% 1.7% 2.8% 9.4% 0.0% 11.1%
7
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your organization offer any of these additional workplace retirement/savings plans?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Defined Benefit
Plan (Traditional)19.2% 11.5% 14.2% 23.2% 36.9% 50.8% 12.9% 11.8% 7.0% 9.7% 54.5% 33.3%
Defined Benefit
Plan (Cash
Balance)5.3% 1.9% 2.9% 4.6% 12.6% 25.4% 8.2% 3.6% 8.5% 16.1% 9.1% 33.3%
Defined Benefit
Plan (Hybrid/ other
formula)1.8% 0.3% 0.8% 2.2% 4.0% 11.3% 1.3% 0.0% 2.8% 0.0% 9.1% 0.0%
Equity
Compensation
(e.g., Stock) Plan7.4% 1.3% 4.7% 11.5% 18.2% 29.2% 4.7% 1.8% 2.8% 3.2% 9.1% 55.6%
Health Savings
Accounts (HSA)47.0% 30.3% 48.9% 61.5% 61.5% 75.8% 46.1% 26.4% 63.4% 71.0% 36.4% 77.8%
Retiree Health
Benefits12.0% 2.8% 6.3% 17.3% 32.6% 48.8% 6.5% 2.7% 2.8% 6.5% 45.5% 33.3%
529 College
Savings Plan6.9% 2.1% 6.7% 9.8% 18.2% 11.3% 3.9% 0.9% 2.8% 6.5% 27.3% 11.1%
8
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following do you offer employees to assist with the cost of higher/continuing education?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Employer
contribution to
sponsored
529 plan
0.8% 0.3% 0.7% 1.5% 1.0% 2.7% 0.9% 0.9% 0.0% 3.4% 0.0% 0.0%
Tuition
reimbursement
program (for post
employment/
tuition expenses)
40.8% 19.6% 41.8% 62.4% 65.8% 73.5% 27.8% 14.7% 22.7% 62.1% 72.7% 62.5%
Student loan
repayment/
reimbursement
program (for
recent graduates)
1.7% 0.7% 1.7% 2.8% 3.9% 2.7% 4.9% 3.7% 7.6% 6.9% 0.0% 0.0%
Student loan
restructuring/
refinancing
assistance
1.5% 0.3% 0.7% 1.5% 4.8% 6.6% 1.3% 0.0% 1.5% 0.0% 0.0% 25.0%
None - does not
offer any of these
benefits58.1% 79.8% 57.2% 36.4% 31.3% 24.3% 69.5% 82.6% 75.8% 34.5% 27.3% 25.0%
9
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Do you provide a Roth contribution option?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 68.5% 61.9% 70.7% 73.1% 69.6% 78.8% 75.1% 67.4% 82.4% 87.1% 60.0% 77.8%
No 31.5% 38.1% 29.3% 26.9% 30.4% 21.3% 24.9% 32.6% 17.6% 12.9% 40.0% 22.2%
10
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your DC plan allow for in-plan Roth conversions?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes- currently offer 30.3% 25.6% 25.0% 33.8% 39.6% 52.9% 26.4% 20.6% 21.4% 40.7% 50.0% 42.9%
No, but
considering6.3% 2.9% 6.3% 8.3% 12.2% 8.4% 0.6% 0.0% 1.8% 0.0% 0.0% 0.0%
No, and not
considering36.9% 28.3% 41.5% 43.8% 39.2% 34.0% 27.7% 15.9% 41.1% 25.9% 16.7% 42.9%
Unsure /
Don’t know26.5% 43.2% 27.3% 14.1% 9.0% 4.7% 45.3% 63.5% 35.7% 33.3% 33.3% 14.3%
11
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Is your DC plan a “Safe Harbor” plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 55.6% 65.8% 55.9% 42.9% 43.0% 41.6% 73.0% 78.4% 82.1% 50.0% 83.3% 22.2%
No 44.4% 34.2% 44.1% 57.1% 57.0% 58.4% 27.0% 21.6% 17.9% 50.0% 16.7% 77.8%
12
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
13
Plan Loans & Withdrawals
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does the plan include a loan provision?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 79.3% 72.7% 79.9% 81.8% 88.5% 92.1% 70.6% 63.3% 75.7% 71.9% 81.8% 100.0%
No 19.3% 23.7% 19.8% 18.0% 11.5% 7.5% 25.5% 28.4% 24.3% 28.1% 18.2% 0.0%
Unsure 1.4% 3.6% 0.3% 0.2% 0.0% 0.4% 3.9% 8.3% 0.0% 0.0% 0.0% 0.0%
14
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Can a participant take loans against Roth balances?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 43.3% 28.3% 44.8% 53.5% 57.1% 60.6% 43.3% 25.4% 45.1% 81.8% 44.4% 75.0%
No 13.1% 13.8% 13.2% 13.1% 9.9% 14.4% 12.1% 7.5% 21.6% 4.5% 22.2% 0.0%
Not applicable 25.9% 32.4% 23.3% 21.7% 26.2% 17.6% 18.5% 28.4% 11.8% 4.5% 22.2% 12.5%
Unsure /
Don’t know17.7% 25.4% 18.8% 11.6% 6.7% 7.4% 26.1% 38.8% 21.6% 9.1% 11.1% 12.5%
15
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How many loans can a participant have open at one time?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
One 59.5% 67.9% 59.1% 58.2% 51.2% 42.6% 62.1% 70.3% 58.0% 54.5% 77.8% 25.0%
Two 31.1% 23.6% 31.2% 30.7% 39.5% 48.1% 32.7% 23.4% 38.0% 40.9% 11.1% 75.0%
Three 4.7% 3.1% 4.8% 5.6% 7.1% 5.6% 2.6% 0.0% 4.0% 4.5% 11.1% 0.0%
Four or more 4.7% 5.4% 4.8% 5.6% 2.1% 3.7% 2.6% 6.3% 0.0% 0.0% 0.0% 0.0%
16
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
If loans are offered, what % of plan participants have outstanding loans?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average 13.0% 9.6% 12.9% 14.8% 17.8% 18.6% 12.5% 10.7% 13.7% 12.3% 17.4% 14.1%
Median 10.0% 6.0% 10.2% 12.1% 16.2% 18.1% 10.0% 6.5% 12.0% 10.9% 14.8% 14.0%
17
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Average loan balance for participants with open/outstanding loans:
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average $10,189 $10,578 $10,155 $9,962 $9,646 $10,228 $11,588 $9,996 $13,869 $9,606 $12,544 $9,385
Median $8,500 $7,532 $8,355 $9,498 $8,800 $9,681 $7,720 $5,000 $9,428 $7,840 $10,574 $7,720
18
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan allow separated employees to continue to make loan payments after termination?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes - feature has
been or will be
implemented in
our plan
26.2% 11.1% 18.3% 35.3% 55.7% 65.7% 17.7% 7.4% 13.7% 36.4% 44.4% 50.0%
No - but we are
considering adding
it in the future5.1% 3.5% 5.8% 4.9% 4.3% 9.7% 3.8% 0.0% 7.8% 0.0% 0.0% 25.0%
No - feature is not
available and we
have not discussed
adding it
56.4% 62.6% 66.6% 52.0% 36.4% 21.3% 60.1% 66.2% 62.7% 59.1% 44.4% 12.5%
Unsure / Don't
know12.3% 22.7% 9.3% 7.9% 3.6% 3.2% 18.4% 26.5% 15.7% 4.5% 11.1% 12.5%
19
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following in-service distribution options are allowed by your plan document?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Hardship
withdrawals85.3% 80.3% 87.0% 87.1% 90.4% 92.0% 75.3% 69.3% 74.3% 90.6% 81.8% 88.9%
Distributions
connected to
specific age
67.9% 53.5% 72.9% 73.9% 80.5% 85.3% 60.5% 42.6% 65.7% 93.8% 72.7% 88.9%
Distributions to
active duty military
(HEART Act)
28.8% 16.2% 27.9% 39.8% 43.3% 55.5% 21.5% 10.9% 15.7% 40.6% 54.5% 77.8%
Distribution of
rollover assets from
previous employer
37.6% 25.5% 36.4% 47.1% 52.0% 66.8% 33.6% 20.8% 32.9% 62.5% 45.5% 66.7%
Distribution
of after-tax dollars15.8% 8.8% 11.2% 16.8% 30.7% 50.4% 11.2% 6.9% 8.6% 18.8% 27.3% 33.3%
Other specific
circumstances5.8% 4.5% 3.8% 9.0% 8.7% 13.0% 5.8% 5.0% 7.1% 6.3% 0.0% 11.1%
None - we do not
allow in-service
distributions of any
type
6.2% 11.0% 4.3% 3.2% 2.8% 2.1% 9.9% 15.8% 8.6% 0.0% 0.0% 0.0%
20
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
If allowed, what percentage of plan participants have made hardship withdrawals in the past year?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average 1.4% 1.1% 1.1% 1.7% 2.2% 2.7% 1.3% 0.9% 1.5% 1.4% 2.8% 1.6%
Median 0.5% 0.0% 0.3% 1.0% 1.0% 1.3% 0.0% 0.0% 0.3% 0.7% 1.8% 0.7%
21
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
“Auto” Features
22
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan offer automatic enrollment?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 41.3% 19.9% 44.2% 63.0% 65.3% 65.1% 37.6% 25.0% 34.3% 75.0% 54.5% 66.7%
No 55.4% 72.4% 54.6% 36.3% 34.4% 34.0% 52.6% 58.9% 60.0% 25.0% 36.4% 33.3%
Unsure 3.3% 7.7% 1.2% 0.7% 0.3% 0.8% 9.8% 16.1% 5.7% 0.0% 9.1% 0.0%
23
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which (if any) of the following types of "re-enrollment" has your plan used/tried in the past 3 years?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Re-enrolled
employees not
participating in
the plan
18.5% 13.7% 17.2% 23.4% 21.1% 17.4% 16.9% 8.7% 8.3% 34.8% 0.0% 33.3%
Re-enrolled
participants
saving below the
default deferral
rate
10.7% 5.0% 9.5% 14.5% 14.4% 11.6% 8.4% 0.0% 0.0% 21.7% 0.0% 33.3%
Re-enrolled
participants not
invested in the
default investment
2.4% 4.1% 1.6% 3.1% 0.5% 3.9% 2.4% 0.0% 4.2% 4.3% 0.0% 0.0%
We have not
attempted to re-
enroll any
employees
78.7% 83.1% 79.5% 74.2% 77.5% 78.7% 84.3% 91.3% 95.8% 65.2% 100.0% 66.7%
24
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the default investment for automatic enrollment?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Retail Target-Date
Fund (Active)33.5% 28.4% 35.2% 36.7% 35.4% 26.9% 26.3% 16.7% 34.8% 30.4% 16.7% 16.7%
Retail Target-Date
Fund (Indexed)25.0% 17.5% 19.4% 25.9% 36.4% 36.5% 17.1% 5.6% 13.0% 17.4% 33.3% 50.0%
Custom Target-
Date Fund10.7% 2.8% 9.4% 11.2% 8.7% 26.9% 11.8% 0.0% 4.3% 21.7% 33.3% 16.7%
Risk-based
Lifestyle Fund3.5% 3.3% 3.1% 5.6% 1.9% 3.2% 1.3% 0.0% 4.3% 0.0% 0.0% 0.0%
Balanced Fund 8.9% 14.2% 10.8% 7.6% 5.8% 1.9% 10.5% 5.6% 21.7% 4.3% 16.7% 0.0%
Professionally
Managed Acct7.9% 9.5% 8.4% 8.0% 8.3% 3.2% 11.8% 11.1% 4.3% 21.7% 0.0% 16.7%
Stable Value Fund /
GIC3.0% 6.2% 4.3% 1.2% 1.0% 0.0% 6.6% 16.7% 8.7% 0.0% 0.0% 0.0%
Money Market
Fund4.5% 14.7% 5.1% 0.4% 1.0% 0.0% 9.2% 38.9% 0.0% 0.0% 0.0% 0.0%
Other 3.2% 3.3% 4.1% 3.6% 1.5% 1.3% 5.3% 5.6% 8.7% 4.3% 0.0% 0.0%
25
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the default deferral rate as a percentage of the employee’s salary?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
1% 3.6% 8.4% 4.1% 0.8% 2.4% 1.3% 6.0% 7.7% 14.3% 0.0% 0.0% 0.0%
2% 6.5% 7.6% 7.8% 4.3% 5.3% 5.7% 3.6% 3.8% 4.8% 0.0% 16.7% 0.0%
3% 40.7% 44.9% 46.7% 36.7% 31.7% 33.8% 48.2% 46.2% 52.4% 41.7% 33.3% 83.3%
4% 12.3% 5.3% 12.7% 16.4% 14.9% 10.8% 12.0% 11.5% 4.8% 20.8% 16.7% 0.0%
5% 11.6% 9.3% 8.8% 16.8% 14.4% 11.5% 6.0% 0.0% 4.8% 12.5% 16.7% 0.0%
6% 17.6% 12.0% 13.5% 17.6% 25.5% 28.7% 13.3% 19.2% 4.8% 12.5% 16.7% 16.7%
Other 7.7% 12.4% 6.3% 7.4% 5.8% 8.3% 10.8% 11.5% 14.3% 12.5% 0.0% 0.0%
26
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan offer “auto escalation” (i.e., automatic deferral increases)?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
No 61.4% 76.2% 65.8% 45.7% 35.2% 28.6% 65.7% 71.3% 80.0% 37.5% 45.5% 11.1%
Yes - participants
are defaulted into
auto escalation at
time of enrollment
unless they opt
out; all other
participants can
opt in at any time
18.3% 5.5% 18.5% 32.5% 33.3% 35.7% 12.6% 3.7% 7.1% 46.9% 9.1% 44.4%
Yes - but
participation
is voluntary and
participants must
opt in to auto
escalation
15.3% 7.7% 13.0% 20.8% 30.8% 34.4% 11.3% 9.3% 4.3% 15.6% 36.4% 44.4%
Unsure 5.0% 10.6% 2.7% 1.0% 0.6% 1.2% 10.4% 15.7% 8.6% 0.0% 9.1% 0.0%
27
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following match your organization’s default/recommended automatic escalation rate?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Less than 1% 1.9% 4.0% 1.9% 2.3% 0.5% 1.2% 3.8% 7.7% 0.0% 5.3% 0.0% 0.0%
Exactly 1% 68.1% 51.7% 71.0% 76.7% 67.5% 66.1% 60.4% 38.5% 50.0% 78.9% 60.0% 62.5%
More than 1% 5.5% 6.0% 6.3% 4.2% 4.9% 6.0% 1.9% 0.0% 12.5% 0.0% 0.0% 0.0%
Not applicable 17.8% 22.8% 16.1% 11.6% 19.2% 23.2% 24.5% 23.1% 37.5% 15.8% 20.0% 37.5%
Unsure/Don't know 6.6% 15.4% 4.6% 5.1% 7.9% 3.6% 9.4% 30.8% 0.0% 0.0% 20.0% 0.0%
28
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Participation and Eligibility
29
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the participation rate in your DC plan among eligible employees?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average 79.3% 76.7% 80.7% 80.4% 80.4% 80.8% 76.8% 72.9% 79.9% 81.7% 78.0% 78.9%
Median 87.0% 83.0% 87.0% 89.0% 89.0% 90.0% 86.0% 81.5% 89.7% 88.7% 80.0% 85.0%
30
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the average participant account balance?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average $97,903 $78,546 $103,139 $104,620 $105,816 $134,415 $115,992 $73,370 $157,491 $139,368 $115,417 $109,336
Median $75,000 $58,000 $75,000 $81,945 $82,852 $118,000 $92,680 $55,000 $118,907 $114,812 $98,505 $91,033
31
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the average contribution/deferral rate among active participants?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average 6.6% 6.1% 6.5% 7.0% 7.2% 8.1% 6.5% 5.9% 6.7% 7.1% 7.6% 7.5%
Median 6.1% 5.6% 6.0% 6.7% 7.0% 8.0% 6.0% 5.0% 6.0% 6.2% 6.1% 7.0%
32
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
When are full-time employees eligible to participate in the plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Immediately
upon hire36.0% 19.7% 28.8% 50.7% 68.4% 83.8% 21.7% 10.2% 21.4% 25.0% 81.8% 77.8%
Within 3 months
of employment26.8% 21.9% 32.9% 33.5% 24.1% 13.3% 18.7% 14.8% 14.3% 43.8% 9.1% 22.2%
After 4 to 11
months of
employment12.5% 16.4% 15.7% 6.2% 2.8% 1.3% 9.6% 12.0% 11.4% 3.1% 0.0% 0.0%
At 1 year of
employment23.2% 39.7% 21.4% 8.6% 3.7% 0.8% 46.1% 58.3% 48.6% 25.0% 9.1% 0.0%
After more than
1 year of
employment1.5% 2.3% 1.2% 1.0% 0.9% 0.8% 3.9% 4.6% 4.3% 3.1% 0.0% 0.0%
33
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Employer Match
34
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your organization offer a matching contribution* to participant accounts?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 73.7% 67.9% 74.9% 76.8% 78.1% 85.0% 57.8% 56.0% 55.7% 64.5% 63.6% 66.7%
No 25.6% 30.3% 24.9% 23.2% 21.6% 15.0% 39.1% 37.6% 44.3% 35.5% 36.4% 33.3%
Unsure 0.7% 1.8% 0.2% 0.0% 0.3% 0.0% 3.0% 6.4% 0.0% 0.0% 0.0% 0.0%
*NOTE: A matching contribution requires a participant contribution that is “matched” by the employer up to some defined limit (i.e., 50% match on first 6% of salary, dollar-for-dollar up to $1000, etc.).
35
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your organization offer a non-elective or profit sharing contribution to participant accounts?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 48.4% 43.9% 53.0% 49.3% 48.6% 46.5% 63.6% 52.8% 76.8% 71.0% 81.8% 44.4%
No 47.7% 48.6% 45.1% 48.5% 50.5% 50.2% 31.1% 37.0% 23.2% 25.8% 18.2% 55.6%
Unsure 3.9% 7.5% 1.9% 2.2% 0.9% 3.3% 5.3% 10.2% 0.0% 3.2% 0.0% 0.0%
*NOTE: These contributions generally do NOT require participant contributions.
36
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
If you provide a match, which of the following descriptions best describes your match formula:
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Simple Traditional
Match134.5% 34.2% 33.5% 34.2% 34.3% 40.2% 30.2% 30.5% 32.4% 25.0% 14.3% 50.0%
Simple Stretch
Match230.3% 23.6% 33.3% 36.2% 33.9% 29.9% 27.1% 18.6% 24.3% 50.0% 42.9% 33.3%
Tiered Match3 19.3% 21.2% 17.8% 18.2% 17.3% 22.1% 24.0% 23.7% 24.3% 20.0% 42.9% 16.7%
Capped Dollar4 4.1% 4.3% 3.9% 4.9% 3.6% 3.9% 3.9% 6.8% 2.7% 0.0% 0.0% 0.0%
None of the above /
Other structure9.5% 12.4% 9.8% 5.9% 9.3% 3.4% 10.9% 13.6% 13.5% 5.0% 0.0% 0.0%
Unsure/
Don’t know2.3% 4.3% 1.6% 0.7% 1.6% 0.5% 3.9% 6.8% 2.7% 0.0% 0.0% 0.0%
37
1 Offers a full, flat-rate match (100% or greater) of the employee's contributions (i.e. 100% of first 3% of employee contribution)
2 Employee contributions are partially matched at a fixed/flat rate (i.e., 50% of for first 6% of employee contributions)
3 Match varies for different levels of employee contributions (i.e. 100% of the first 4% of employee contributions and 50% of the next 2%)
4Employer matches employee contributions on a "per dollar" basis up to a fixed amount (i.e., 100% of employee contributions up to $2500 maximum)
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
If you provide a match, which option best describes the effective match rate (assuming a 6% baseline)?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
More than 100%
of first 6% of salary7.9% 6.9% 7.8% 8.2% 7.8% 11.4% 5.8% 7.7% 2.8% 0.0% 14.3% 16.7%
100% of first 6%
of salary12.1% 12.8% 10.8% 8.9% 14.7% 16.8% 9.1% 9.6% 11.1% 5.0% 0.0% 16.7%
51%-99% of first
6% of salary33.8% 34.1% 30.1% 34.1% 37.1% 44.1% 38.8% 38.5% 36.1% 40.0% 57.1% 33.3%
50% of first 6%
of salary22.1% 20.6% 22.8% 27.2% 22.4% 15.8% 19.0% 15.4% 19.4% 30.0% 14.3% 16.7%
Less than 50% of
first 6% of salary17.5% 18.6% 21.2% 16.4% 13.5% 5.0% 22.3% 25.0% 19.4% 25.0% 14.3% 16.7%
Other 6.6% 7.1% 7.3% 5.2% 4.5% 6.9% 5.0% 3.8% 11.1% 0.0% 0.0% 0.0%
38
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the maximum TOTAL annual employer contribution (as a % of salary) to employee account(s)?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
None 11.8% 15.5% 9.1% 9.7% 11.4% 11.3% 9.5% 15.8% 0.0% 6.5% 18.2% 11.1%
2% or less 8.1% 8.6% 9.9% 8.0% 4.4% 1.3% 7.3% 10.9% 2.9% 9.7% 0.0% 0.0%
3% - 4% 33.0% 40.2% 32.1% 30.3% 22.2% 21.3% 33.6% 46.5% 27.9% 19.4% 9.1% 11.1%
5% - 6% 20.2% 17.0% 21.8% 19.2% 25.0% 23.4% 18.6% 10.9% 25.0% 22.6% 18.2% 44.4%
7% - 10% 15.1% 9.0% 15.4% 18.4% 23.4% 26.4% 16.8% 9.9% 19.1% 29.0% 27.3% 22.2%
More than 10% 8.4% 6.3% 8.4% 12.2% 9.2% 10.9% 11.4% 4.0% 22.1% 12.9% 9.1% 11.1%
Other format
(i.e., contribution
not based on % of
salary)
3.5% 3.3% 3.3% 2.2% 4.4% 5.4% 2.7% 2.0% 2.9% 0.0% 18.2% 0.0%
39
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan match catch-up contributions?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 54.4% 50.3% 61.7% 57.5% 45.2% 46.0% 50.0% 42.4% 67.6% 52.6% 42.9% 16.7%
No 34.5% 29.0% 30.6% 37.6% 49.6% 49.0% 31.3% 27.1% 21.6% 42.1% 42.9% 83.3%
Not applicable:
Plan does not
allow for catch-up
contributions
3.3% 4.6% 2.6% 3.3% 3.2% 1.5% 4.7% 5.1% 5.4% 5.3% 0.0% 0.0%
Unsure 7.8% 16.2% 5.1% 1.6% 2.0% 3.5% 14.1% 25.4% 5.4% 0.0% 14.3% 0.0%
40
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan match Roth contributions?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 62.7% 52.3% 64.9% 67.8% 69.0% 77.7% 69.0% 55.9% 81.1% 85.0% 71.4% 66.7%
No 11.9% 16.3% 12.5% 10.4% 5.6% 2.5% 9.3% 11.9% 13.5% 0.0% 0.0% 0.0%
Not applicable:
Plan does not
allow for Roth
contributions
21.9% 24.0% 20.8% 19.9% 24.6% 17.8% 15.5% 20.3% 5.4% 10.0% 28.6% 33.3%
Unsure 3.5% 7.4% 1.7% 2.0% 0.8% 2.0% 6.2% 11.9% 0.0% 5.0% 0.0% 0.0%
41
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan include a provision to “true up” matching contributions*?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 34.7% 20.6% 33.7% 47.6% 53.4% 51.0% 35.7% 20.3% 45.9% 35.0% 85.7% 66.7%
No 46.9% 46.3% 50.4% 44.3% 42.9% 43.1% 36.4% 39.0% 32.4% 45.0% 14.3% 33.3%
Unsure 18.4% 33.1% 15.9% 8.1% 3.6% 5.9% 27.9% 40.7% 21.6% 20.0% 0.0% 0.0%
*A “true up” match can be used to restore matching contributions “lost” when a participant reaches the annual contribution limit prior to year-end and thus foregoes the opportunity to make additional contributions that would otherwise have been matched. In such situation, a plan may elect to “true up” the employer matching contribution.
42
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
If you provide a match, how frequently are matching contributions made to plan participants?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Non pay period -
Annually 14.4% 15.9% 15.2% 13.9% 12.6% 7.8% 16.4% 8.5% 22.2% 35.0% 0.0% 16.7%
Non pay period -
Quarterly3.1% 2.3% 2.8% 5.8% 2.8% 3.4% 7.0% 3.4% 8.3% 10.0% 14.3% 16.7%
Non pay period -
Monthly2.7% 3.6% 2.9% 1.0% 2.8% 1.0% 2.3% 1.7% 5.6% 0.0% 0.0% 0.0%
Non pay period -
Twice monthly (24
times per year)
2.8% 3.9% 2.2% 2.6% 2.0% 2.0% 2.3% 3.4% 0.0% 0.0% 14.3% 0.0%
Non pay period -
Biweekly (26 times
per year)
4.9% 4.6% 5.1% 3.6% 6.9% 5.4% 6.3% 8.5% 2.8% 5.0% 14.3% 0.0%
Per pay period 70.7% 67.6% 71.1% 71.5% 71.3% 79.9% 63.3% 69.5% 61.1% 50.0% 57.1% 66.7%
Other 1.4% 2.2% 0.9% 1.6% 1.6% 0.5% 2.3% 5.1% 0.0% 0.0% 0.0% 0.0%
43
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Once eligible for the plan, when are participants eligible to receive matching contributions?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Participants
immediately qualify
to receive the
match once eligible
80.9% 85.8% 80.1% 77.6% 76.5% 76.5% 82.9% 93.2% 78.4% 80.0% 57.1% 50.0%
Once eligible,
participants must
wait up to 6 months
before qualifying to
receive the match
4.0% 3.6% 4.0% 3.9% 5.7% 3.9% 2.3% 3.4% 0.0% 0.0% 14.3% 0.0%
Once eligible,
participants must
wait more than 6
months before
qualifying to
receive the match
14.3% 9.4% 15.3% 18.5% 17.0% 18.6% 14.7% 3.4% 21.6% 20.0% 28.6% 50.0%
Unsure 0.8% 1.3% 0.6% 0.0% 0.8% 1.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
44
*NOTE: Matching contributions may be subject to a separate vesting schedule (see next question); this question is focused on when they qualify for matching contribution.
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How long before participants are 100% vested in the match?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Immediately on
enrollment37.0% 38.4% 34.4% 35.5% 39.5% 41.4% 38.0% 37.3% 37.8% 40.0% 42.9% 33.3%
1 year or less 3.9% 3.6% 3.1% 4.6% 6.0% 5.4% 0.8% 0.0% 0.0% 0.0% 14.3% 0.0%
2 years 4.7% 2.2% 3.7% 6.5% 8.9% 10.3% 0.8% 0.0% 2.7% 0.0% 0.0% 0.0%
3 years 12.8% 7.7% 12.3% 17.6% 16.1% 23.2% 7.0% 5.1% 2.7% 20.0% 14.3% 0.0%
4 years 4.2% 3.2% 3.9% 6.2% 4.4% 6.4% 7.0% 5.1% 10.8% 5.0% 0.0% 16.7%
5 years 19.3% 22.0% 20.0% 17.6% 16.1% 12.8% 23.3% 28.8% 21.6% 15.0% 0.0% 33.3%
6 years 16.8% 19.8% 21.8% 12.1% 8.9% 0.5% 20.9% 18.6% 24.3% 20.0% 28.6% 16.7%
After more
than 6 years1.3% 3.1% 0.9% 0.0% 0.0% 0.0% 2.3% 5.1% 0.0% 0.0% 0.0% 0.0%
45
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Are matching contributions vested on a “cliff” or graded basis/schedule?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Cliff vesting:
employees
become 100%
vested at a
designated time
of service
27.2% 18.8% 24.0% 31.9% 42.5% 51.9% 19.0% 16.2% 13.0% 41.7% 33.3% 0.0%
Graded vesting:
employees
become partially
vested in
increments over
time, until 100%
vested
65.8% 67.5% 70.5% 64.9% 57.5% 47.2% 70.9% 64.9% 87.0% 50.0% 66.7% 100.0%
Don’t know/
Unsure7.0% 13.8% 5.5% 3.2% 0.0% 0.9% 10.1% 18.9% 0.0% 8.3% 0.0% 0.0%
46
*Only asked of respondents who have vesting schedules of 2 years or longer
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What percentage of participants are deferring enough to take full advantage of the maximum match?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
All or nearly all
participants
(90% or more)25.6% 32.5% 23.5% 21.3% 19.9% 21.3% 24.2% 28.8% 29.7% 15.8% 0.0% 0.0%
Vast majority
(75% or more)25.6% 22.2% 25.8% 26.9% 26.0% 36.0% 22.7% 30.5% 13.5% 21.1% 0.0% 33.3%
More than average
(more than 50% but
less than 75%)25.6% 16.4% 28.2% 28.5% 37.0% 31.5% 21.9% 8.5% 24.3% 31.6% 71.4% 50.0%
Less than average
(more than 25% but
less than 50%)13.8% 14.4% 15.6% 12.8% 12.2% 7.6% 17.2% 13.6% 24.3% 15.8% 14.3% 16.7%
A minority (between
10% and 25%)5.2% 6.4% 4.4% 7.9% 2.8% 2.5% 7.8% 6.8% 5.4% 15.8% 14.3% 0.0%
Very few (<10%) 4.2% 8.2% 2.4% 2.6% 2.0% 1.0% 6.3% 11.9% 2.7% 0.0% 0.0% 0.0%
47
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is your plan’s most common policy for handling plan forfeitures?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Used to pay
general plan
expenses
33.3% 32.5% 37.1% 34.6% 25.8% 27.2% 31.3% 19.0% 45.9% 35.0% 42.9% 33.3%
Used to reduce
future employer
contributions
36.9% 22.5% 35.7% 48.0% 56.5% 56.4% 33.6% 25.9% 27.0% 55.0% 42.9% 66.7%
Allocated to
existing participants
on a pro-rata basis
7.0% 8.1% 9.4% 3.9% 3.2% 1.5% 7.0% 8.6% 10.8% 0.0% 0.0% 0.0%
None - we do not
have a formal
policy regarding
forfeitures
6.3% 11.8% 4.2% 2.0% 4.8% 2.0% 6.3% 10.3% 5.4% 0.0% 0.0% 0.0%
Unsure/Don't know 12.8% 22.9% 9.8% 6.5% 2.8% 8.4% 18.0% 31.0% 10.8% 0.0% 14.3% 0.0%
Other 3.8% 2.2% 3.8% 4.9% 6.9% 4.5% 3.9% 5.2% 0.0% 10.0% 0.0% 0.0%
48
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Plan Investments
49
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which investment vehicles is your organization currently using in its DC plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Mutual Funds 91.7% 88.8% 93.6% 94.5% 95.4% 85.1% 88.2% 81.5% 91.4% 93.1% 100.0% 100.0%
Separate
Accounts19.9% 19.6% 19.5% 15.8% 15.0% 35.5% 24.6% 25.9% 25.9% 10.3% 36.4% 37.5%
Collective
Investment Trust16.0% 7.1% 10.2% 18.6% 29.4% 57.0% 10.2% 8.6% 3.4% 17.2% 9.1% 50.0%
ETFs (outside of
brokerage
windows)13.0% 15.6% 14.0% 9.0% 10.5% 7.9% 18.7% 17.3% 17.2% 17.2% 27.3% 37.5%
Self-Directed
Brokerage
Window19.1% 9.8% 13.6% 23.2% 38.2% 49.6% 21.9% 4.9% 24.1% 44.8% 54.5% 50.0%
Mutual Fund
Window5.2% 5.5% 4.3% 5.5% 6.5% 5.7% 2.7% 3.7% 1.7% 0.0% 9.1% 0.0%
Other 4.9% 6.1% 3.3% 3.8% 7.2% 5.3% 7.0% 9.9% 6.9% 3.4% 0.0% 0.0%
50
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following investment classes/options are available to your plan participants?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Target-Date Funds 77.0% 69.5% 77.3% 79.3% 85.6% 91.3% 70.3% 67.4% 69.0% 72.4% 90.9% 75.0%
Target-Risk Funds (i.e., "growth",
“moderate”, etc.)41.7% 52.4% 47.0% 32.4% 22.2% 15.6% 51.6% 52.3% 63.8% 31.0% 36.4% 50.0%
Balanced Funds 70.0% 69.6% 74.9% 67.4% 70.9% 52.4% 62.5% 51.2% 77.6% 62.1% 81.8% 50.0%
Professionally Managed Accounts
(for participants)34.0% 31.5% 32.1% 28.6% 39.2% 54.5% 37.5% 29.1% 39.7% 44.8% 45.5% 75.0%
Money Market Fund 59.8% 60.8% 62.1% 58.9% 53.3% 55.4% 54.7% 47.7% 60.3% 55.2% 72.7% 62.5%
Employer Stock 6.5% 1.2% 2.1% 6.4% 15.7% 36.4% 3.6% 0.0% 1.7% 6.9% 9.1% 37.5%
Stable Value Funds 57.5% 35.3% 62.3% 70.6% 82.7% 72.3% 43.8% 23.3% 56.9% 62.1% 63.6% 75.0%
Real Estate / REITS 27.8% 23.1% 30.9% 28.9% 30.4% 26.8% 22.4% 14.0% 31.0% 27.6% 18.2% 37.5%
Alt. Investments (hedge fund,
private equity, etc.)5.1% 6.1% 4.9% 5.0% 2.9% 4.8% 5.2% 7.0% 5.2% 0.0% 9.1% 0.0%
Socially Responsible Funds 11.8% 10.0% 11.3% 13.0% 13.7% 17.3% 5.2% 4.7% 5.2% 0.0% 18.2% 12.5%
51
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following (if any) index fund(s) are offered in your plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Target-date index
fund(s)46.8% 46.2% 47.1% 42.5% 49.0% 52.4% 48.6% 55.1% 54.5% 19.2% 60.0% 25.0%
Domestic equity
index fund (i.e.,
S&P 500, Russell
2000, etc.)
70.5% 57.0% 71.7% 77.2% 86.3% 87.2% 57.6% 50.0% 61.8% 76.9% 40.0% 62.5%
Domestic bond
index funds52.3% 44.2% 52.2% 53.3% 61.6% 71.8% 43.5% 35.9% 50.9% 50.0% 30.0% 62.5%
International equity
index fund (i.e.,
Europe/Asia,
Global Market, etc.)
53.3% 43.7% 52.3% 55.6% 68.2% 72.2% 46.3% 35.9% 54.5% 50.0% 60.0% 62.5%
International bond
index funds27.3% 26.9% 28.0% 28.8% 28.1% 22.5% 26.6% 24.4% 34.5% 30.8% 0.0% 12.5%
Other categories of
index funds13.2% 11.5% 13.7% 14.2% 13.4% 15.9% 16.4% 14.1% 20.0% 19.2% 20.0% 0.0%
NONE - we do not
offer index funds of
any type
11.4% 20.8% 9.4% 6.6% 2.7% 1.3% 14.7% 23.1% 10.9% 7.7% 0.0% 0.0%
52
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How many investment options are offered in your defined contribution plan?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average 22.8 24.5 23.5 21.4 20.5 18.6 23.5 24.0 25.8 21.3 20.6 15.9
Median 20.0 21.0 21.0 20.0 18.0 15.5 21.0 22.0 21.0 20.5 19.0 15.0
* Target-date fund families/series are counted as one investment option.
53
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the average number of investment options held by your DC plan participants?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Average 5.7 6.5 5.8 5.6 4.9 4.2 6.0 5.7 6.5 7.1 3.8 4.4
Median 4.1 5.0 4.7 4.2 4.0 4.0 4.0 4.0 4.7 4.4 4.0 3.5
54
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How often do you formally review the investment options?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Quarterly 38.7% 15.1% 38.5% 62.4% 70.0% 64.0% 32.0% 10.8% 38.7% 63.3% 50.0% 87.5%
Twice a year 13.4% 10.7% 18.8% 12.5% 10.1% 5.3% 9.9% 7.5% 11.3% 13.3% 20.0% 0.0%
Annually 36.0% 51.3% 35.9% 20.0% 14.0% 24.1% 41.9% 53.8% 43.5% 16.7% 30.0% 0.0%
Every 1-2 years 3.7% 6.0% 2.7% 2.4% 2.0% 3.1% 3.4% 3.2% 4.8% 3.3% 0.0% 0.0%
Every 2-3 years 1.9% 3.4% 1.1% 0.8% 1.6% 1.8% 3.9% 6.5% 0.0% 3.3% 0.0% 12.5%
Every 3+ years 1.9% 3.2% 1.1% 0.5% 2.0% 1.8% 2.0% 4.3% 0.0% 0.0% 0.0% 0.0%
Never 4.4% 10.4% 1.9% 1.3% 0.3% 0.0% 6.9% 14.0% 1.6% 0.0% 0.0% 0.0%
55
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following option does your plan offer to help participants with creating/managing retirement income?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Systematic
withdrawal
option at
retirement
35.5% 18.9% 36.8% 49.2% 51.0% 64.5% 24.8% 10.8% 30.2% 43.3% 54.5% 50.0%
In-plan income
products that
guarantee monthly
income
7.1% 5.0% 8.1% 8.2% 8.3% 8.5% 3.7% 3.9% 0.0% 6.7% 9.1% 12.5%
In-plan income
products that
guarantee a base
benefit
15.0% 9.9% 13.8% 18.2% 21.2% 32.1% 15.0% 7.8% 9.5% 30.0% 36.4% 62.5%
In-plan income
NOT offering
guarantees
4.7% 3.8% 4.7% 5.1% 5.8% 6.8% 4.2% 5.9% 1.6% 6.7% 0.0% 0.0%
Out-of-plan
annuity purchase/
bidding service
4.8% 2.1% 5.1% 4.6% 7.7% 13.2% 3.3% 2.0% 0.0% 6.7% 9.1% 25.0%
Unsure 20.9% 29.6% 21.8% 14.6% 6.4% 5.6% 30.4% 39.2% 28.6% 16.7% 9.1% 12.5%
No income
products offered37.4% 45.4% 36.4% 31.8% 34.3% 17.9% 41.1% 47.1% 44.4% 30.0% 27.3% 0.0%
56
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Fees/Expenses
57
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the approximate average asset-weighted expense ratio of all investment options in your plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Less than 0.25%
(<25 bps)19.3% 17.9% 15.5% 14.7% 18.2% 46.9% 18.4% 22.2% 18.6% 4.3% 20.0% 42.9%
0.25%-.50%
(25-50 bps)34.3% 28.3% 30.5% 41.1% 47.0% 40.2% 43.0% 47.2% 34.9% 47.8% 40.0% 57.1%
0.51%-.75%
(51-75 bps)22.9% 16.4% 25.5% 33.0% 28.3% 9.3% 18.4% 11.1% 18.6% 30.4% 40.0% 0.0%
<.75% (75 bps) 76.5% 62.6% 71.5% 88.8% 93.5% 96.4% 79.8% 80.6% 72.1% 82.6% 100.0% 100.0%
0.76%-1%
(76-100 bps)14.3% 18.4% 19.3% 8.8% 4.5% 2.6% 11.4% 8.3% 16.3% 13.0% 0.0% 0.0%
1.01%-1.50%
(101-150 bps)7.3% 15.1% 7.2% 1.8% 1.6% 1.0% 6.1% 11.1% 7.0% 0.0% 0.0% 0.0%
1.51%-2.00%
(151-200 bps)1.2% 2.4% 1.1% 0.7% 0.0% 0.0% 0.9% 0.0% 0.0% 4.3% 0.0% 0.0%
2.01%-2.50%
(201-250 bps)0.3% 0.5% 0.3% 0.0% 0.4% 0.0% 0.9% 0.0% 2.3% 0.0% 0.0% 0.0%
More than 2.50%
(more than 250 bps)0.5% 0.9% 0.6% 0.0% 0.0% 0.0% 0.9% 0.0% 2.3% 0.0% 0.0% 0.0%
58
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan include mutual funds that pay 12b-1 and/or sub-TA fees to recordkeepers/TPAs?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 33.3% 17.3% 37.1% 48.7% 51.3% 39.2% 24.6% 14.6% 28.3% 40.0% 33.3% 50.0%
No 24.6% 22.5% 22.2% 21.1% 28.1% 46.3% 20.2% 16.7% 21.7% 23.3% 11.1% 50.0%
Unsure / Don’t
know42.1% 60.1% 40.7% 30.2% 20.5% 14.5% 55.2% 68.8% 50.0% 36.7% 55.6% 0.0%
59
*Certain mutual fund share classes pay 12b-1 fees and/or sub-transfer agency (“sub-TA”) fees to recordkeepers/TPAs to
assist with distribution and administration services—a practice that is commonly called “revenue sharing.”
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your organization/plan have a policy to address fee equalization?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes, a policy is in
place31.0% 14.7% 28.1% 40.2% 40.8% 41.8% 26.0% 21.4% 29.4% 16.7% 33.3% 50.0%
No, but we plan
to implement in
the next year
5.7% 3.3% 4.8% 7.1% 7.9% 8.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
No, but we may
develop one in
future
15.1% 12.5% 13.5% 16.8% 19.7% 16.5% 16.0% 7.1% 17.6% 16.7% 66.7% 0.0%
No, and no
plans to28.7% 43.5% 31.3% 21.7% 18.4% 18.7% 22.0% 21.4% 23.5% 33.3% 0.0% 0.0%
Unsure 19.4% 26.1% 22.3% 14.1% 13.2% 14.3% 36.0% 50.0% 29.4% 33.3% 0.0% 50.0%
60
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Do you use an “ERISA account” or “plan expense reimbursement account” to track revenue sharing credits?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 48.4% 31.5% 43.4% 55.2% 62.6% 66.3% 48.0% 21.4% 41.2% 75.0% 66.7% 75.0%
No 32.4% 45.1% 32.3% 28.4% 26.5% 25.0% 30.0% 50.0% 41.2% 8.3% 0.0% 0.0%
Unsure 19.2% 23.4% 24.3% 16.4% 11.0% 8.7% 22.0% 28.6% 17.6% 16.7% 33.3% 25.0%
61
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How are the following plan expenses/fees paid?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Plan
(via participants)49.9% 31.1% 54.2% 63.8% 61.9% 69.7% 40.1% 23.0% 54.2% 39.3% 62.5% 75.0%
Employer 35.8% 54.8% 32.8% 20.9% 19.7% 17.2% 44.6% 55.4% 40.7% 39.3% 25.0% 12.5%
Both (shared) 14.2% 14.1% 13.0% 15.3% 18.4% 13.1% 15.3% 21.6% 5.1% 21.4% 12.5% 12.5%
62
Recordkeeping Fees
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Plan
(via participants)46.0% 31.5% 47.3% 59.7% 54.2% 60.1% 40.0% 25.0% 46.3% 51.9% 50.0% 62.5%
Employer 44.6% 58.4% 44.3% 29.7% 34.0% 33.8% 50.3% 58.3% 50.0% 37.0% 50.0% 37.5%
Both (shared) 9.4% 10.2% 8.4% 10.6% 11.8% 6.1% 9.7% 16.7% 3.7% 11.1% 0.0% 0.0%
Trustee Fees
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How are the following plan expenses/fees paid?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Plan
(via participants)37.1% 27.0% 38.3% 43.3% 43.7% 48.4% 29.8% 23.4% 34.0% 28.6% 50.0% 37.5%
Employer 51.0% 64.6% 50.7% 42.1% 39.0% 35.8% 55.9% 60.9% 56.6% 50.0% 50.0% 37.5%
Both (shared) 11.9% 8.4% 11.1% 14.5% 17.3% 15.8% 14.3% 15.6% 9.4% 21.4% 0.0% 25.0%
63
Expenses associated with Employee Communications & Education
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Plan
(via participants)22.0% 14.9% 22.6% 23.2% 24.6% 38.0% 19.9% 6.3% 27.8% 25.0% 50.0% 25.0%
Employer 67.7% 76.5% 69.7% 63.3% 60.7% 45.4% 71.4% 84.1% 66.7% 60.7% 50.0% 62.5%
Both (shared) 10.3% 8.6% 7.7% 13.5% 14.7% 16.7% 8.7% 9.5% 5.6% 14.3% 0.0% 12.5%
Audit / Legal / Compliance Fees
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How are the following plan expenses/fees paid?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Plan
(via participants)66.0% 55.1% 68.8% 70.4% 72.7% 79.1% 56.4% 36.8% 67.3% 73.1% 75.0% 75.0%
Employer 20.4% 29.4% 17.3% 16.4% 16.0% 13.0% 26.1% 39.7% 20.0% 11.5% 0.0% 25.0%
Both (shared) 13.6% 15.5% 14.0% 13.2% 11.3% 7.9% 17.6% 23.5% 12.7% 15.4% 25.0% 0.0%
64
Investment Management Fees
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Plan
(via participants)48.0% 42.0% 54.2% 46.8% 41.1% 52.9% 46.7% 28.3% 60.8% 52.0% 50.0% 75.0%
Employer 41.1% 44.4% 36.0% 43.7% 47.2% 39.4% 38.2% 51.7% 27.5% 36.0% 37.5% 12.5%
Both (shared) 10.9% 13.6% 9.8% 9.5% 11.7% 7.7% 15.1% 20.0% 11.8% 12.0% 12.5% 12.5%
Investment Consulting Fees
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
For the prior plan year, did you calculate the total fees (all sources) paid to your DC provider/recordkeeper?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes, and we
externally
benchmarked our
plan's costs/fees
47.0% 31.7% 49.8% 62.3% 63.0% 57.8% 36.5% 21.4% 35.5% 70.0% 70.0% 62.5%
Yes, and we plan
to externally
benchmark our
plan's costs/fees
7.2% 5.2% 6.8% 7.1% 10.5% 13.4% 3.8% 3.1% 4.8% 3.3% 0.0% 12.5%
Yes, but we did
NOT externally
benchmark our
plan's costs/fees
16.2% 16.2% 18.0% 13.5% 10.8% 19.0% 19.2% 20.4% 24.2% 13.3% 0.0% 12.5%
No, but we intend
to3.4% 4.6% 2.8% 2.1% 3.3% 2.6% 3.4% 1.0% 6.5% 3.3% 0.0% 12.5%
No, but we may at
some point 12.6% 22.4% 10.1% 6.1% 4.9% 0.9% 15.9% 26.5% 9.7% 3.3% 0.0% 0.0%
Unsure 13.6% 19.9% 12.4% 9.0% 7.5% 6.5% 21.2% 27.6% 19.4% 6.7% 30.0% 0.0%
65
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How often do you formally review actual administrative costs/fees?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Annually 75.8% 75.6% 78.4% 72.6% 73.6% 72.3% 73.2% 67.0% 77.0% 83.3% 80.0% 75.0%
Every 1-2 years 8.7% 9.5% 8.4% 9.5% 7.8% 5.6% 7.2% 7.0% 9.8% 6.7% 0.0% 0.0%
Every 2-3 years 7.8% 3.9% 7.4% 12.4% 13.0% 13.9% 7.2% 5.0% 6.6% 6.7% 20.0% 25.0%
Every 3-5 years 1.9% 1.0% 2.0% 2.1% 2.9% 3.9% 0.5% 1.0% 0.0% 0.0% 0.0% 0.0%
Every 5+ years 0.7% 0.6% 0.5% 0.8% 1.0% 1.3% 0.5% 0.0% 0.0% 3.3% 0.0% 0.0%
Never 5.1% 9.3% 3.3% 2.6% 1.6% 3.0% 11.5% 20.0% 6.6% 0.0% 0.0% 0.0%
66
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Defined Contribution Providers
67
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
For how long has your organization used your DC provider?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Less than 1 year 3.4% 2.9% 4.1% 4.0% 2.3% 3.5% 2.5% 3.2% 0.0% 3.3% 10.0% 0.0%
More than 1 year
but less than 3
years12.6% 16.7% 11.4% 10.1% 8.5% 9.6% 16.7% 24.5% 16.4% 0.0% 0.0% 12.5%
More than 3 years
but less than 5
years13.6% 18.4% 13.2% 11.1% 7.2% 6.1% 16.7% 19.1% 14.8% 20.0% 0.0% 12.5%
More than 5 years
but less than 7
years12.2% 13.9% 12.1% 11.4% 10.1% 9.2% 10.8% 8.5% 13.1% 13.3% 10.0% 12.5%
More than 7 years 55.3% 43.7% 57.0% 60.2% 71.3% 70.3% 49.8% 38.3% 54.1% 63.3% 80.0% 62.5%
Don't know 2.8% 4.3% 2.3% 3.2% 0.7% 1.3% 3.4% 6.4% 1.6% 0.0% 0.0% 0.0%
68
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
How often do you formally evaluate your DC provider?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Annually 63.8% 65.8% 67.0% 57.4% 57.7% 58.5% 65.7% 58.5% 72.6% 66.7% 80.0% 75.0%
Every 1 to
<2 years9.0% 10.2% 9.0% 9.8% 7.2% 4.5% 8.8% 7.4% 14.5% 6.7% 0.0% 0.0%
Every 2 to
<3 years8.5% 5.5% 8.6% 12.4% 12.8% 9.8% 3.4% 3.2% 0.0% 10.0% 10.0% 0.0%
Every 3 to
<5 years6.5% 2.2% 4.9% 10.6% 13.8% 17.0% 4.9% 0.0% 6.5% 10.0% 10.0% 25.0%
Every 5+ years 3.2% 2.4% 3.3% 4.5% 2.3% 5.8% 1.0% 0.0% 1.6% 3.3% 0.0% 0.0%
Never 9.0% 13.9% 7.2% 5.3% 6.2% 4.5% 16.2% 30.9% 4.8% 3.3% 0.0% 0.0%
69
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Advice and Advisers
70
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Do you employ the services of a retirement plan adviser or institutional investment consultant?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 65.7% 61.4% 66.5% 72.8% 70.8% 63.6% 62.4% 57.6% 54.8% 80.0% 80.0% 87.5%
No 27.1% 27.0% 28.0% 22.4% 25.6% 32.9% 25.7% 21.7% 40.3% 16.7% 10.0% 12.5%
Unsure/Don’t Know 7.2% 11.5% 5.5% 4.8% 3.6% 3.6% 11.9% 20.7% 4.8% 3.3% 10.0% 0.0%
71
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Is your plan adviser a fiduciary to the plan?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes – 3(38)
fiduciary17.9% 16.9% 20.4% 18.5% 15.8% 12.4% 22.5% 14.3% 26.5% 30.4% 28.6% 28.6%
Yes – 3(21)
fiduciary36.1% 20.1% 35.6% 54.4% 54.4% 45.5% 27.5% 14.3% 23.5% 47.8% 57.1% 42.9%
No 12.7% 15.3% 12.8% 5.6% 11.6% 15.9% 10.0% 12.2% 17.6% 0.0% 0.0% 0.0%
Unsure /
Don't know33.3% 47.7% 31.2% 21.5% 18.1% 26.2% 40.0% 59.2% 32.4% 21.7% 14.3% 28.6%
*[Note: A 3(21) fiduciary status relates to fiduciary roles lacking discretion while 3(38) fiduciary roles afford the adviser discretion over investment decisions.]
72
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What is the adviser’s fee arrangement?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
% of plan assets
(bps)44.9% 51.5% 58.5% 31.7% 20.7% 10.1% 42.6% 38.0% 44.1% 60.9% 50.0% 0.0%
Per participant 6.8% 8.1% 7.1% 3.8% 4.8% 8.6% 12.3% 8.0% 26.5% 4.3% 12.5% 0.0%
Project-based 4.7% 3.8% 2.4% 5.3% 9.1% 11.5% 5.7% 8.0% 2.9% 0.0% 12.5% 14.3%
Monthly/Annual
retainer26.6% 8.8% 18.2% 46.0% 57.2% 64.0% 22.1% 12.0% 20.6% 26.1% 37.5% 71.4%
Performance
(investments)1.7% 1.5% 2.2% 1.5% 1.9% 0.7% 1.6% 2.0% 0.0% 0.0% 12.5% 0.0%
Performance
(participation)1.2% 1.2% 1.2% 1.1% 1.9% 0.0% 1.6% 2.0% 0.0% 0.0% 12.5% 0.0%
Other 6.2% 4.0% 4.9% 10.6% 11.1% 6.5% 5.7% 4.0% 2.9% 13.0% 0.0% 14.3%
Don’t know 18.7% 31.3% 15.4% 9.1% 9.6% 12.2% 25.4% 38.0% 20.6% 4.3% 37.5% 14.3%
73
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
For the prior plan year, did you calculate the actual fees your plan paid to your adviser?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 58.7% 38.4% 60.7% 75.6% 76.6% 77.5% 47.5% 26.5% 44.1% 79.2% 62.5% 85.7%
No 27.3% 43.7% 27.0% 11.7% 12.0% 10.1% 28.7% 40.8% 38.2% 8.3% 0.0% 0.0%
Don’t Know 14.0% 17.9% 12.3% 12.8% 11.5% 12.3% 23.8% 32.7% 17.6% 12.5% 37.5% 14.3%
74
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
What type(s) of services does the financial adviser or consultant provide?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Review of fund performance 94.7% 90.7% 96.3% 98.1% 96.2% 94.2% 90.8% 83.3% 91.2% 100.0% 100.0% 100.0%
Plan investment selection guidance 90.9% 86.8% 92.3% 94.8% 94.8% 88.3% 87.5% 83.3% 91.2% 91.3% 87.5% 85.7%
Provider selection/ due diligence 66.1% 61.0% 67.5% 72.5% 70.1% 62.8% 60.0% 62.5% 50.0% 69.6% 62.5% 57.1%
IPS review and monitoring 65.9% 51.5% 66.2% 84.8% 81.0% 65.7% 59.2% 45.8% 58.8% 82.6% 62.5% 71.4%
Provider fee analysis 79.2% 70.9% 80.5% 87.0% 85.8% 82.5% 72.5% 68.8% 64.7% 87.0% 62.5% 100.0%
Plan benchmarking 67.6% 53.5% 70.7% 77.0% 79.1% 76.6% 54.2% 39.6% 52.9% 65.2% 100.0% 71.4%
Plan education programs 50.7% 49.5% 61.9% 52.8% 32.7% 22.6% 46.7% 47.9% 41.2% 56.5% 62.5% 14.3%
1:1 participant education 54.5% 69.3% 67.7% 39.8% 17.5% 8.8% 60.8% 70.8% 67.6% 52.2% 50.0% 0.0%
Group participant education 56.8% 69.8% 70.8% 44.6% 19.9% 9.5% 60.8% 77.1% 52.9% 52.2% 62.5% 14.3%
Funds review with committee or plan
administrator71.4% 51.4% 77.1% 87.0% 86.7% 74.5% 60.0% 41.7% 64.7% 87.0% 75.0% 57.1%
Technical help with corp. transactions 32.4% 34.5% 35.3% 33.1% 25.1% 19.0% 38.3% 37.5% 38.2% 39.1% 50.0% 28.6%
Plan compliance review 53.2% 52.4% 58.7% 56.5% 46.9% 32.1% 50.0% 50.0% 52.9% 47.8% 62.5% 28.6%
75
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Is financial/investment advice offered to participants in your DC plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes, via onsite
meetings with an
adviser outside the
plan
44.3% 45.4% 51.6% 40.7% 33.5% 24.3% 47.5% 42.9% 58.2% 38.7% 54.5% 44.4%
Yes, via 3rd party
(i.e., Financial
Engines, etc.)
independent of our
DC recordkeeper
24.4% 19.4% 21.3% 27.4% 32.0% 48.5% 30.9% 22.9% 22.4% 51.6% 63.6% 77.8%
Yes, via proprietary
services offered
through our DC
recordkeeper
37.6% 23.8% 40.6% 51.0% 52.2% 47.7% 30.0% 11.4% 38.8% 51.6% 72.7% 55.6%
Yes, via another
source5.1% 5.9% 5.1% 3.5% 5.7% 3.3% 6.7% 10.5% 3.0% 0.0% 0.0% 22.2%
Total "Yes" 79.4% 74.8% 82.9% 81.7% 79.7% 80.3% 83.9% 75.2% 89.6% 90.3% 100.0% 100.0%
No 20.6% 25.2% 17.1% 18.3% 20.3% 19.7% 16.1% 24.8% 10.4% 9.7% 0.0% 0.0%
76
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your organization provide formal financial education/ guidance to participants on these topics?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Saving strategies 42.9% 23.5% 44.7% 57.8% 66.6% 70.7% 32.9% 21.6% 32.8% 41.9% 80.0% 77.8%
Budgeting 29.7% 13.6% 26.1% 42.9% 56.6% 65.5% 21.9% 11.8% 11.9% 48.4% 60.0% 77.8%
Financial markets & investing basics 35.3% 19.6% 35.0% 46.2% 55.9% 65.5% 21.0% 10.8% 19.4% 35.5% 50.0% 66.7%
Credit/debt management 19.4% 8.5% 16.8% 27.5% 38.9% 44.4% 16.9% 9.8% 7.5% 38.7% 50.0% 55.6%
Home buying 9.7% 4.0% 7.8% 13.1% 17.7% 29.7% 4.6% 2.0% 3.0% 3.2% 30.0% 22.2%
College saving 17.1% 7.6% 14.9% 21.7% 34.4% 42.7% 15.1% 10.8% 7.5% 19.4% 60.0% 55.6%
Tax/Estate planning 16.6% 7.6% 14.3% 22.2% 32.8% 39.2% 12.8% 8.8% 7.5% 19.4% 40.0% 44.4%
Retirement healthcare options 23.1% 11.3% 21.3% 31.1% 42.4% 48.7% 19.6% 12.7% 13.4% 25.8% 60.0% 77.8%
Social Security withdrawal
options/strategies21.2% 9.9% 18.3% 29.5% 40.5% 50.4% 17.8% 10.8% 10.4% 29.0% 60.0% 66.7%
Rolling past balances into the
plan28.0% 19.3% 28.5% 33.1% 38.9% 44.8% 21.0% 19.6% 19.4% 22.6% 40.0% 22.2%
Rollover options for separatedemployees
25.4% 17.3% 25.3% 27.0% 37.3% 45.7% 21.0% 18.6% 19.4% 22.6% 50.0% 22.2%
NONE – Do not offer any of these 44.3% 65.0% 41.7% 29.5% 20.3% 14.7% 59.4% 72.5% 59.7% 41.9% 10.0% 22.2%
77
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Plan Oversight and Administration
78
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your organization have an investment committee for the DC plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes - committee
includes only
internal
employees
41.4% 22.3% 45.4% 52.6% 62.2% 62.4% 29.7% 15.2% 35.5% 60.0% 30.0% 37.5%
Yes - committee
includes only
people external to
our company
2.8% 2.9% 2.6% 1.1% 2.3% 7.0% 2.5% 3.3% 1.6% 3.3% 0.0% 0.0%
Yes - committee
includes a mix of
internal and
external people
27.1% 18.0% 31.9% 39.4% 29.0% 22.7% 27.2% 14.1% 32.3% 36.7% 60.0% 62.5%
Yes - but unsure
of composition of
investment
committee
1.2% 1.0% 1.3% 0.8% 2.0% 1.7% 0.5% 1.1% 0.0% 0.0% 0.0% 0.0%
No investment
committee24.1% 49.2% 16.6% 5.3% 3.6% 4.8% 32.7% 52.2% 29.0% 0.0% 0.0% 0.0%
Don't know 3.3% 6.6% 2.2% 0.8% 1.0% 1.3% 7.4% 14.1% 1.6% 0.0% 10.0% 0.0%
79
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Do you have a written investment policy statement (IPS) for the DC plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 65.9% 42.6% 70.3% 85.6% 88.9% 87.8% 52.9% 30.9% 59.7% 90.0% 70.0% 100.0%
No 19.7% 33.0% 16.8% 8.2% 7.2% 9.1% 21.1% 26.6% 29.0% 0.0% 0.0% 0.0%
Don’t know 14.3% 24.4% 12.9% 6.1% 3.9% 3.0% 26.0% 42.6% 11.3% 10.0% 30.0% 0.0%
80
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
If you have an IPS, does it specifically cover target-date funds and their underlying funds?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes 53.5% 49.4% 50.6% 59.6% 55.0% 61.2% 42.6% 34.5% 40.5% 51.9% 57.1% 37.5%
No 26.0% 22.0% 29.1% 24.2% 29.7% 21.4% 29.6% 20.7% 35.1% 33.3% 0.0% 50.0%
Unsure 20.5% 28.6% 20.3% 16.1% 15.2% 17.4% 27.8% 44.8% 24.3% 14.8% 42.9% 12.5%
81
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Does your plan employ a 3rd party (TPA, adviser, recordkeeper, etc.) as a 3(16) fiduciary?*
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Yes, and the 3rd
party has broad
scope acceptance
of administrator
roles, including
being named as
plan administrator
20.2% 21.3% 22.2% 21.2% 15.3% 10.0% 22.3% 21.7% 27.4% 23.3% 0.0% 12.5%
Yes, but the 3rd
party has only
limited scope
acceptance of
some functions;
actions outside this
scope is retained by
plan officials
32.1% 29.8% 34.0% 35.1% 32.0% 28.6% 31.2% 25.0% 37.1% 30.0% 50.0% 37.5%
No 37.9% 33.9% 36.1% 38.1% 47.7% 51.4% 27.7% 21.7% 27.4% 40.0% 30.0% 50.0%
Don’t know 9.8% 14.9% 7.6% 5.6% 5.0% 10.0% 18.8% 31.5% 8.1% 6.7% 20.0% 0.0%
*An ERISA Section 3(16) plan administrator is the fiduciary responsible for overall governance of the plan with the exception of trustee functions. Examples of plan 3(16) plan governance actions include: 1. the authorization of distributions or loans; 2. actions to enforce or interpret the terms of the plan; 3. decisions on claims for benefits or other plan-related decisions.
82
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of these channels do you use to support formal education and communication campaigns?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Personalized
communications30.3% 21.1% 27.3% 39.7% 46.4% 51.3% 32.7% 19.0% 32.8% 54.8% 54.5% 88.9%
Targeted
communications34.1% 11.6% 28.5% 56.4% 73.2% 79.2% 26.5% 8.6% 22.4% 54.8% 90.9% 88.9%
General
communications72.4% 58.2% 75.6% 85.5% 83.6% 87.3% 69.1% 55.2% 74.6% 90.3% 81.8% 100.0%
Recordkeeper's
participant website55.2% 35.3% 54.0% 74.1% 85.2% 84.7% 46.2% 29.5% 52.2% 64.5% 81.8% 88.9%
Onsite group
meetings52.8% 33.6% 58.2% 66.6% 70.7% 70.8% 43.9% 27.6% 47.8% 67.7% 90.9% 66.7%
Webinars 26.4% 10.7% 21.9% 40.4% 50.5% 66.9% 17.9% 10.5% 11.9% 41.9% 27.3% 55.6%
Videos 12.9% 4.5% 8.8% 21.2% 29.3% 37.3% 11.7% 6.7% 7.5% 29.0% 9.1% 44.4%
Modern/Non-
traditional channels
(i.e., social media,
podcasts, etc.)
3.7% 1.8% 2.1% 5.0% 9.1% 11.4% 4.5% 3.8% 3.0% 3.2% 18.2% 11.1%
Indirect channels
(i.e., in-office
posters, corporate
intranet, etc.)
15.4% 6.7% 13.2% 22.9% 27.1% 38.6% 12.6% 5.7% 14.9% 19.4% 18.2% 44.4%
83
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Please indicate your level of agreement with each of the following statements (% “strong agree" or "agree")
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Most of our
employees will
achieve their
retirement goals by
age 65
16.8% 18.0% 14.7% 16.8% 19.2% 18.0% 13.0% 10.6% 16.1% 7.1% 22.2% 25.0%
Our organization
would prefer that
terminated
employees with
material balances
remain in our plan
23.2% 22.3% 20.8% 23.0% 30.2% 30.2% 20.6% 19.8% 22.6% 17.9% 20.0% 25.0%
Our organization
has a responsibility
to improve the
"financial wellness"
of our employees
41.0% 39.5% 39.3% 40.3% 49.7% 45.3% 40.4% 35.3% 48.4% 34.5% 66.7% 25.0%
Our organization
appropriately
documents the
reasoning behind
changes to plan
investments
49.5% 43.4% 50.7% 51.6% 62.2% 50.9% 53.9% 47.7% 55.7% 55.2% 100.0% 50.0%
84
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
Which of the following measures, if any, do you use to gauge the success of your plan?
All Industries Healthcare Organizations (for profit)
Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B Overall <$5MM$5MM-$50MM
>$50MM-$200MM
>$200MM-$1B
$>1B
Participation rates 65.5% 46.6% 69.2% 81.7% 79.8% 86.2% 55.0% 27.6% 67.8% 92.6% 80.0% 100.0%
Deferral rates 51.6% 30.1% 55.0% 68.5% 73.2% 75.1% 42.9% 11.5% 50.8% 92.6% 90.0% 100.0%
% of participants meeting retirement
income goals 7.9% 3.3% 7.1% 15.6% 13.6% 11.6% 7.9% 0.0% 6.8% 25.9% 40.0% 0.0%
% of participant hitting income
replacement ratio9.2% 2.0% 6.9% 17.5% 21.9% 20.4% 5.8% 0.0% 1.7% 18.5% 20.0% 37.5%
% of participants saving to match 21.1% 8.7% 20.1% 33.2% 33.4% 44.0% 16.8% 9.2% 15.3% 40.7% 10.0% 37.5%
% of participants with "appropriate" asset allocations
13.6% 3.2% 10.9% 24.0% 28.5% 35.1% 11.0% 1.1% 8.5% 25.9% 40.0% 50.0%
% participants w/ increased deferrals 9.8% 3.8% 9.9% 16.7% 17.2% 14.7% 9.9% 2.3% 6.8% 29.6% 40.0% 12.5%
% of participants using advice tools 12.2% 3.4% 10.2% 21.3% 25.5% 27.6% 8.9% 2.3% 5.1% 22.2% 30.0% 37.5%
Satisfaction surveys 16.8% 13.4% 17.0% 18.3% 17.9% 26.7% 14.7% 4.6% 20.3% 18.5% 40.0% 37.5%
Plan benchmarking 26.1% 12.3% 26.5% 36.7% 42.1% 46.7% 23.0% 6.9% 23.7% 55.6% 50.0% 50.0%
No success measures 25.6% 43.0% 21.5% 10.8% 13.9% 7.6% 37.2% 63.2% 25.4% 3.7% 0.0% 0.0%
85
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
For more reports like this one…
If you are interested in seeing a report similar to this one for another industry, or if you would like to see additional topics explored in this report, please contact Brian O’Keefe at (203) 979-3091 or [email protected]
86
For Plan Sponsor Use Only – Not For Use with Participants or the General Public.Source: PLANSPONSOR Defined Contribution Survey, 2017
PLANSPONSOR Industry Reports currently available include:
•403(b) plans
•457 plans
•Accounting/CPA Firm/Financial Planning
•Advertising/Marketing/Printing
•Aerospace/Defense
•Agriculture
•Architecture
•Automotive Dealerships/Service
•Automotive Manufacturing/Parts
•Banking: Commercial/Retail
•Building/Construction/Contracting
•Business Services/Staffing
•Chemicals/Mining
•Consulting
•Consumer Services
•Credit Unions
•Distribution/Manufacturer's Rep/Import/Export
•Education: Higher Ed
•Education: K12/Preschool/Daycare
•Engineering
•Environmental, Recycling, Remediation, Testing, Consulting
•Equipment Sales/Leasing/Service
•Financial Services
•Fortune 1000
•Government/Public Works: City/Municipal
•Government/Public Works: County, State and Federal
•Healthcare Organizations (for profit)
•Healthcare Organizations (not for profit)
•Hotels/Gaming/Entertainment/Hospitality/Travel
•Insurance/Reinsurance
•Investment Banking/Holding Companies
•Labor Unions
•Law Firms
•Manufacturing: Consumer Products
•Manufacturing: Industrial Products
•Media/Communications/Publishing
•Membership Organizations/Industry Associations
•Nonprofit Organizations/Endowments/Foundations
•Oil & Gas/Energy
•Pharmaceuticals
•Real Estate Management, Investment and Development
•Religious Organizations/Social Services
•Research & Development
•Restaurants/Food Service
•Retail
•Technology/Computers/Software
•Telecommunications
•Transportation/Airlines
•Utilities
•Wholesale
87
strategic-i.com