New research exploring the makeup of 403(b) plans is finding that a lot of the features 401(k) plans use to increase employee participation—from expanded investment options to auto features—are now part of the 403(b) package.
The study from Brightscope and the Investment Company Institute (ICI), the "Brightscope/ICI Defined Contribution Plan Profile: A Close Look at ERISA 403(b) Plans, 2013," analyzes 403(b) plans covered by the Employee Retirement Income Security Act of 1974 (ERISA) that had 100 participants or more and at least $1 million in plan assets.
Among the study's findings are that ERISA 403(b) plans offered an average of 25 core investment options to participants in 2013.
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