According to a survey conducted by the FreeERISA data team, some industries lag in their adoption of the 401(k) plan as their primary retirement benefit.
We looked at large plans (100 or more participants) filed for the most recent plan year, and examined the rate of adoption of a 401(k) plan versus some other kind of retirement plan. It's important to note that this is not a look at all companies in a particular industry, just those that offer a retirement benefit.
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While the 401(k) is by no means the be-all-end-all of retirement plans, we found it interesting that there was such a large discrepancy between the various industries. While many of the plans offered by Educational Services companies were 403(b)s and thus could be considered analogous to the 401(k), most were just straight up profit sharing arrangements; although no one plan type stood out as a clear winner.
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