RESEARCH |

2024
PLANSPONSOR 403(b) Market Survey

Reported by PLANSPONSOR
Industry Snapshot
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Industry Snapshot

Defined Contribution Assets, by Plan Type($B)

Single-employer 401(k)
$7.3T
Pooled employer or multiple employer 401(k)*
$65B
Single-employer 403(b)
$1.3T
Pooled employer or multiple employer 403(b)*
$11B
457 – 457(b) / 457(f)
$551B
Money purchase / Profit-sharing
$362B
ESOP / KSOP†
$196B
NQDC‡, excluding 457s
$183B
State-sponsored§
$1B
SEP / SIMPLE IRA*
$8B
Any other defined contribution plan type
$975B
*These plan types were not broken out in previous surveys.
†A qualified retirement plan combining an employee stock ownership plan with a 401(k)
‡Nonqualified deferred compensation.
§State-sponsored individual retirement plans*—e.g., Secure Choice
Simple employer pension / Savings incentive match plan for employees individual retirement account.

403(b) Assets, by Plan Size

  • ≤25 participants 3%
  • 26 – 100 participants 4%
  • 101 – 500 participants 11%
  • 501 – 1,000 participants 6%
  • 1,001 – 5,000 participants 21%
  • >5,000 participants 55%

403(b) Plans, by Plan Type

  • ERISA 30%
  • Non-ERISA 70%

403(b) Participants, by Market Segment

  • K-12 schools 9%
  • Higher education 32%
  • Health care/Hospital 45%
  • Church or religious organizations 4%
  • Community service organizations 1%
  • Charitable organizations 2%
  • All other 403(b) segments 7%