SURVEY |

2020
DC Survey: Plan Benchmarking

Reported by PLANSPONSOR | Art by Dion MBD
2020 Survey
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2020 Survey

Automatic Features

Adoption of automatic enrollment and automatic escalation continues to rise—now at 51% and 46% respectively, vs. 48% and 23% last year. Yet, their future growth may depend on acceptance among smaller plans—i.e., those having under $50 million in plan assets. Less than 50% of those plans have implemented either feature vs. the more than 75% of plans with over $200 million that have implemented one or both. When offered, target-date funds (TDFs) remain the dominant default investment option, as usage increased for the fifth year in a row and now stands at 76%.

Plans Using Automatic Features

Auto-Enrollment
Auto-Escalation
All plan sizes
51%
46%
<$5MM
27%
22%
$5MM – $50MM
50%
39%
>$50MM  – $200MM
69%
60%
>$200MM
76%
80%

Average Plan Participation Rates, by Features Offered

Auto-enrollment and -escalation
88.5%
Auto-enrollment only
81.5%
Auto-escalation only
67.4%
No “auto” plan features
73.1%

Trend in Plans Using a TDF for the Default Investment

2015
62%
2016
66%
2017
69%
2018
73%
2019
74%
2020
76%


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Unique defined contribution (DC) benchmarking tools based on feedback from roughly 3,000 employers

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Contact Rob Reif / 212-217-6906 / robert.reif@issmediasolutions.com