Our findings help plan sponsors determine whether or not they are taking the right steps to deliver positive retirement outcomes for their employees, empowering them to identify and correct deficiencies in their plans, said Eric Ryles, VP of Customer Solutions
NEW YORK (PRWEB) May 26, 2021
Judy Diamond Associates, a unit of ALM Media, LLC, has published the results of its fifth annual 401(k) Plan Benchmark Report. This in-depth analysis examines almost 600,000 active 401(k) plans, covering more than 88 million eligible workers and $6 trillion dollars in total retirement assets. 27 different industrial groupings were reviewed and segmented by size, from micro plans with 1-10 people to mega plans with 5,000 or more participants.
The complete 401(k) Plan Benchmark Report is available for free at: https://www.judydiamond.com/products/401k-benchmark-report/
“Our goal is to present unbiased, data-supported insights into the 401(k) plans offered by employers in a wide variety of industries,” said study author Eric Ryles, Vice President of Customer Solutions at Judy Diamond Associates. “Our findings help plan sponsors determine whether or not they are taking the right steps to deliver positive retirement outcomes for their employees, empowering them to identify and correct deficiencies in their plans. A good retirement package can also attract and retain top talent”.
The study’s conclusions include:
- Plan assets grew by a trillion dollars during the most recent plan year
- Average account balances grew to $109,823 dollars, with average contributions rising about 8%
- Actual participation rates remained at 81% year over year
- The median Rate of Return on investments is very tightly clustered among all industries, with all 27 sectors reporting between a 20% and 22% RoR
Learn more about Judy Diamond Associates, the leading provider of employee benefits lead generation & recruitment Tools at http://www.judydiamond.com.
About Judy Diamond Associates
ALM’s Judy Diamond Associates is the premier provider of sales, prospecting, and plan analysis tools for the benefits brokers, financial advisors, plan providers, and carriers serving the employee benefits and retirement markets. With a promise for comprehensive and current data, Judy Diamond Associates offers instant access to 5500 plan data and a broad suite of analytical tools to support lead generation, relationship building, market research and plan analysis needs. Judy Diamond Associates’ business is built on a commitment to superb customer service and data integrity. Visit http://www.judydiamond.com for more information.
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