Tuesday, August 11, 2009

Deloitte Releases Annual Survey of 401k Plans

401(k) Annual Benchmarking Survey: 2009 Edition

Some major findings of the survey:

  • 17 percent of plan providers surveyed indicated an uptick in deferral rate changes, hardship withdrawals, loans, and other similar activities.
  • A third (38 percent) reported their employees decreased their deferral rates for 2009, with the majority (60 percent) holding steady at their current level of contribution.
  • 12 percent of employers surveyed indicated an upswing in opt-outs from auto-enrollment programs.
  • Almost one-fifth (19 percent, up 2 percentage points from last year) of plan sponsors believe “very few” of their employees will be financially prepared for retirement.
  • More than three-quarters (79 percent) of employers surveyed are still fairly confident that their plan is effective for recruiting talent, and 68 percent say it helps with retention.
Read survey.

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