403(b) Plan Survey 2014
403(b) plan sponsors are streamlining investment platforms by offering target date investment options as part of an overall slimmer investment platform. This according to the Plan Sponsor Council of America's (PSCA) latest 403(b) Plan Survey, sponsored by the Principal Financial Group®.
Key findings on 2013 data reported by 403(b) plan sponsors
Simplified investment platforms:
- 403(b) plan sponsors offered an average of 26 investment options in 2013, down from 31 in 2012
- Edging closer to the average of 19 investment options offered in 401(k) plans
More target date options:
- Nearly Three quarters of 403(b) plans now offer target date investment options
- A steady increase since 2009 when only about half of plans included target date options.
Help with fiduciary duties:
- More than half (51.3 percent) of sponsors retained independent investment advisors to assist with fiduciary responsibility, compared to 46 percent in 2012.
- Read the executive summary (PDF)
Information regarding the PSCA 2014 survey is provided strictly as a courtesy. Questions regarding this survey should be directed to the PSCA. PSCA is not an affiliate of any company of the Principal Financial Group.
- Read the release
- Purchase the full report at psca.org
Why are employer-sponsored retirement plans are so important? Aaron Friedman blogs about the impact of 403(b) plan sponsor matches and contributions.