People unfurling giant U.S. flag Insights from Vanguard's latest How America Saves report are often surprising. Here are 10. (Photo: AP)
In 2011, Vanguard's recordkeeping arm set out to pitch defined contribution platforms to small businesses with the launch of Vanguard Retirement Plan Access. VRPA administers plans with up to $20 million in assets. Last year, small plans serviced by the Valley Forge, PA firm totaled 8,873—about 70 percent of which are established plans, and 30 percent are start-up plans, defined as being less than three years old. Vanguard's footprint in the small business plan community has grown in stride with the rest of the fund company's businesses. The unit services more than 370,400 participants, up from about 62,000 just five years ago. The average plan has 42 participants and $2.6 million in assets. Here are 10 insights into the VRPA universe, as reported in the small business edition of Vanguard's 2018 How America Saves report.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

Retirement
Advisor Sales Strategies
Defined Contribution