PLANADVISER - July/August 2022 - 27

NEW RESEARCH
Industry Report
Data Available From
PLANSPONSOR
The 2022 Industry Reports feature proprietary data collected in late
2021 by PLANSPONSOR in its annual Defined Contribution Survey.
The reports highlight various plan design features and outcomes from
approximately 50 industries.
2022
Defined Contribution Plan
Industry Report
Financial Services
Email Robert.Reif@issmediasolutions.com
for additional information.
planadviser.com July-August 2022 | 27
Does your organization have an investment committee for the DC plan?
All Industries
Overall <$5MM
Yes - committee includes
only INTERNAL employees
Yes - committee includes
only people EXTERNAL to
our company
Yes - committee includes a
MIX OF INTERNAL AND
EXTERNAL people
Yes - but unsure of
composition of investment
committee
No - plan does not have an
investment committee
Unsure / Don't Know
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
Overall <$5MM
$5MM -
$10MM
Financial Services
>$50MM$200MM
>$200MM$1B
>$1B
39.4%
19.7% 40.3% 48.9% 58.1% 67.9% 61.1% 45.0% 52.2% 100.0% 69.2% 75.0%
1.9% 2.2% 1.8% 1.7% 0.9% 2.8% 1.4% 0.0% 0.0% 0.0% 0.0% 12.5%
29.4% 15.6% 34.4% 43.8% 34.2% 26.4% 15.3% 15.0% 21.7% 0.0% 15.4% 12.5%
0.9% 0.5% 1.0% 1.1% 0.9% 0.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
22.3% 49.3% 17.8% 3.4% 1.7% 1.9% 18.1% 35.0% 21.7% 0.0% 7.7% 0.0%
6.1% 12.7% 4.7% 1.1% 4.3% 0.0% 4.2% 5.0% 4.3% 0.0% 7.7% 0.0%
For TKTKtk use only.
Source: PLANSPONSOR Defined Contribution Survey, 2021. Valid until December 2022.
91
What percentage of active participants are deferring enough salary to take full
advantage of the maximum employer match?
All Industries
Overall <$5MM
All or nearly all participants
(90% or more)
More than average (more
than 50% but less than 75%)
Less than average (more
than 25% but less than 50%)
A minority (between 10%
and 25%)
Very few (<10%)
Unsure/Don't Know
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
Overall <$5MM
Financial Services
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
28.7%
39.9% 22.6% 24.3% 23.3% 35.6% 40.8% 63.6% 26.7% 33.3% 30.0% 66.7%
Vast majority (75% or more) 23.3% 17.4% 22.8% 29.7% 24.4% 29.9% 23.3% 17.4% 22.8% 29.7% 24.4% 29.9%
23.1% 14.7% 25.7% 25.7% 32.2% 23.0% 23.1% 14.7% 25.7% 25.7% 32.2% 23.0%
10.7% 8.5% 12.9% 9.5% 14.4% 5.7% 10.7% 8.5% 12.9% 9.5% 14.4% 5.7%
3.8% 5.4% 4.2% 4.7% 0.0% 0.0% 3.8% 5.4% 4.2% 4.7% 0.0% 0.0%
2.9% 5.8% 2.6% 1.4% 0.0% 1.1% 2.9% 5.8% 2.6% 1.4% 0.0% 1.1%
7.5% 8.1% 9.2% 4.7% 5.6% 4.6% 7.5% 8.1% 9.2% 4.7% 5.6% 4.6%
For TKTKtk use only.
Source: PLANSPONSOR Defined Contribution Survey, 2021. Valid until December 2022.
54
What is the approximate average asset-weighted expense ratio of all investment options
in your plan?
All Industries
Overall <$5MM
Less than 0.25% (25 bps)
0.25-.50% (25-50 bps)
0.50-.75% (51-75 bps)
0.75%-1% (76-100 bps)
1%-1.5% (101-150 bps)
More than 1.5%
(more than 150 bps)
Unsure / Don't Know
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
Overall <$5MM
Financial Services
$5MM -
$10MM
>$50MM$200MM
>$200MM$1B
>$1B
18.0%
10.4% 16.5% 17.2% 24.6% 47.5% 22.9% 19.0% 22.7% 28.6% 0.0% 57.1%
26.1% 17.9% 24.7% 33.9% 42.1% 32.3% 31.4% 42.9% 13.6% 14.3% 58.3% 28.6%
12.8% 9.3% 15.3% 18.4% 14.0% 3.0% 18.6% 28.6% 18.2% 14.3% 16.7% 0.0%
4.4% 4.0% 6.2% 3.4% 1.8% 2.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
2.0% 3.2% 2.3% 0.6% 0.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.2% 0.3% 0.0% 0.0% 0.0% 1.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
36.5% 54.9% 35.1% 26.4% 16.7% 14.1% 27.1% 9.5% 45.5% 42.9% 25.0% 14.3%
For TKTKtk use only. Source: PLANSPONSOR Defined Contribution Survey, 2021. Valid until December 2022.
67

PLANADVISER - July/August 2022

Table of Contents for the Digital Edition of PLANADVISER - July/August 2022

Balancing Act
Greater Access
Previewing Plan Features
A Different Way to Save
Next-Level Options
New Territory for Income?
Compliance for Wealth Managers
If Caught Off Guard by A Failure
Larry E. Crocker
PLANADVISER - July/August 2022 - C1
PLANADVISER - July/August 2022 - FC1
PLANADVISER - July/August 2022 - FC2
PLANADVISER - July/August 2022 - C2
PLANADVISER - July/August 2022 - 1
PLANADVISER - July/August 2022 - 2
PLANADVISER - July/August 2022 - 3
PLANADVISER - July/August 2022 - 4
PLANADVISER - July/August 2022 - 5
PLANADVISER - July/August 2022 - 6
PLANADVISER - July/August 2022 - 7
PLANADVISER - July/August 2022 - 8
PLANADVISER - July/August 2022 - 9
PLANADVISER - July/August 2022 - 10
PLANADVISER - July/August 2022 - 11
PLANADVISER - July/August 2022 - 12
PLANADVISER - July/August 2022 - 13
PLANADVISER - July/August 2022 - 14
PLANADVISER - July/August 2022 - 15
PLANADVISER - July/August 2022 - Balancing Act
PLANADVISER - July/August 2022 - 17
PLANADVISER - July/August 2022 - 18
PLANADVISER - July/August 2022 - 19
PLANADVISER - July/August 2022 - Greater Access
PLANADVISER - July/August 2022 - 21
PLANADVISER - July/August 2022 - 22
PLANADVISER - July/August 2022 - 23
PLANADVISER - July/August 2022 - Previewing Plan Features
PLANADVISER - July/August 2022 - 25
PLANADVISER - July/August 2022 - 26
PLANADVISER - July/August 2022 - 27
PLANADVISER - July/August 2022 - A Different Way to Save
PLANADVISER - July/August 2022 - 29
PLANADVISER - July/August 2022 - 30
PLANADVISER - July/August 2022 - 31
PLANADVISER - July/August 2022 - Next-Level Options
PLANADVISER - July/August 2022 - 33
PLANADVISER - July/August 2022 - 34
PLANADVISER - July/August 2022 - 35
PLANADVISER - July/August 2022 - New Territory for Income?
PLANADVISER - July/August 2022 - 37
PLANADVISER - July/August 2022 - Compliance for Wealth Managers
PLANADVISER - July/August 2022 - If Caught Off Guard by A Failure
PLANADVISER - July/August 2022 - Larry E. Crocker
PLANADVISER - July/August 2022 - Cover3
PLANADVISER - July/August 2022 - Cover4
https://www.planadviserdigital.com/planadviser/july_august_2022
https://www.planadviserdigital.com/planadviser/may_june_2022
https://www.planadviserdigital.com/planadviser/industry_leader_awards_2022
https://www.planadviserdigital.com/planadviser/march_april_2022
https://www.planadviserdigital.com/planadviser/january_february_2022
https://www.planadviserdigital.com/planadviser/november_december_2021
https://www.planadviserdigital.com/planadviser/september_october_2021
https://www.planadviserdigital.com/planadviser/july_august_2021
https://www.planadviserdigital.com/planadviser/may_june_2021
https://www.planadviserdigital.com/planadviser/march_april_2021
https://www.planadviserdigital.com/planadviser/january_february_2021
https://www.planadviserdigital.com/planadviser/november_december_2020
https://www.planadviserdigital.com/planadviser/september_october_2020
https://www.planadviserdigital.com/planadviser/july_august_2020
https://www.planadviserdigital.com/planadviser/may_june_2020
https://www.planadviserdigital.com/planadviser/march_april_2020
https://www.planadviserdigital.com/planadviser/january_february_2020
https://www.planadviserdigital.com/planadviser/november_december_2019
https://www.planadviserdigital.com/planadviser/september_october_2019
https://www.planadviserdigital.com/planadviser/july_august_2019
https://www.planadviserdigital.com/planadviser/may_june_2019
https://www.planadviserdigital.com/planadviser/march_april_2019
https://www.planadviserdigital.com/planadviser/january_february_2019
https://www.planadviserdigital.com/planadviser/november_december_2018
https://www.planadviserdigital.com/planadviser/september_october_2018
https://www.planadviserdigital.com/planadviser/july_august_2018
https://www.planadviserdigital.com/planadviser/may_june_2018
https://www.planadviserdigital.com/planadviser/march_april_2018
https://www.planadviserdigital.com/planadviser/january_february_2018
https://www.planadviserdigital.com/planadviser/november_december_2017
https://www.planadviserdigital.com/planadviser/september_october_2017
https://www.planadviserdigital.com/planadviser/july_august_2017
https://www.nxtbookmedia.com