401(k) Plan Management Benchmarking Report Highlights
Published on by Brad Sack in Benefit Plan Audits, Video
Can’t watch the video? Get the transcript.
How many investment options are organizations offering their employees in their 401(k) plans? How often do they review plan performance and design? And how ready are their employees for retirement?
In this brief reveal event, top Barnes Dennig plan review auditor Brad Sack hits the highlights of the latest edition of our triennial report and shares his insights.
Benchmark your organization’s 401(k) plan against other similarly-sized companies in your industry – and build a competitive edge that can help you attract and retain top talent.
Hitting the highlights
Here are just a few of the top points covered in the video:
This 2024 401(k) benchmark report from Barnes Dennig summarizes key findings from a survey of 147 companies on various aspects of their 401(k) plans. The report covers plan oversight, investments and contributions, plan success satisfaction, timeliness of remittances, and retirement readiness of participants. Key insights include:
- About 50% of companies have over 100 participants in their 401(k) plans
- Most companies conduct regular oversight committee reviews and investment policy statement updates
- Around half of companies offer 10-20 investment choices, with 49 offering more than 20
- Participation rates, investment returns, and plan expenses are the top measures of plan success
- Most companies remit contributions to the plan custodian within a few days of payroll
- Most companies consider their participants to be moderately ready for retirement, and find that auto-enrollment has improved participation rates
Get your copy of the 401(k) Plan Management Benchmarking Report now!
