|Copyright:||Copyright Business Wire 2010|
|Source:||Business Wire, Inc.|
Nearly half restored matches, increased participation according to new research from The Profit Sharing/
The survey, sponsored by the
“We saw real stability in the midst of volatility as 403(b) plans began restoring employer matches at the same rates as 401(k) plans,” says
Highlights from the survey include:
- More than a third (38 percent) of respondents report that participation rates have increased.
- More than half of respondents (50.8 percent) increased employee education and communication effortsover the last year.
- Nearly a quarter (22.6 percent) added investment advice.
- Nearly 16 percent of 403(b) plans that suspended the match plan to reinstate it within the next 6 months.
“Clearly, these 403(b) plan sponsors have shown resilience over these recent tumultuous years,” says
The 403(b) Plan Response to Changing Conditions survey—part of an ongoing series of PSCA surveys on 403(b) plans—reports on the 2009-2010 plan year experience of 599 403(b) plan sponsors from across the country. Find full survey results at www.psca.org.
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PSCA, a national non-profit association of 1,200 companies and their 6 million employees, advocates increased retirement security through defined contribution programs to federal policymakers and makes practical assistance with plan design, administration, investment, compliance, and communication available to its members. PSCA conducts unbiased, comprehensive research on defined contribution plan practices and releases trend data and best-practice information to policymakers and plan sponsors.
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