The adoption of industry best practices is helping sponsors of higher education retirement plans post better results.
That's the word from Cammack Retirement Group, whose fourth edition of the Higher Education Retirement Plan Survey found that in 2013 and 2014, sponsors made changes in plan design that have resulted in increasing participant success, lessening their administrative burden and minimizing fiduciary risk.
For starters, 90 percent of private institutions that responded to the survey now use an investment advisor of some kind. In 2011 that figure was 71 percent; in 2012, 77 percent. And while 25 percent of those advisors were serving as plan fiduciaries in 2010, now almost 50 percent do.
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