An average of 64.3 percent of employees eligible to participate in their organization's 403(b) plan made contributions to the plan in 2011, new research reveals.
Principal Financial Group Inc., of Des Moines, Iowa, published this finding in a summary of results from a survey of 403(b) plan sponsors. Conducted by Plans Sponsor Council of America and sponsored by Principal Financial, the survey polled 584 organizations with 403(b) plans, the number of plan participants ranging from one to more than 1,000.
The report finds that 403(b) plan participants contributed an average of 5.4 percent of their annual pay to the plan. And nearly three of in four (74.9 percent) of eligible active employees have a balance in the plan.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
