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Benchmarking Survey to Identify 403(b) Plan Trends and Best Practices

Participants to receive free copy of results from annual 403(b) Plan Survey

February 15, 2012 (Des Moines, Iowa) – Non-profit organizations that sponsor 403(b) retirement plans have endured not only a rollercoaster economy but also significant regulatory change. To give these organizations valuable insight on how other non-profits are managing their retirement programs, the Plan Sponsor Council of America (PSCA) and Principal Financial Group® announce the fourth annual PSCA 403(b) Plan Survey.

Non-profit organizations that participate in the survey will receive a free copy of the results.

“Retirement plans are a vital part of non-profits’ strategies to attract and retain the best employees. It is important that 403(b) sponsors have a way to find out how their plans compare to others across the nation,” said David Wray, president of PSCA. “Our surveys are the only ones that provide the kind of detailed information on 403(b) plans that these non-profit organizations need. The more 403(b) sponsors who participate, the more valuable the benchmarking information.”

The survey, at http://www.psca.org/2012-403bsurvey will take less 15 minutes to complete and must be submitted by March 9, 2012. This year the survey includes a glossary of terms used and a worksheet to help the plan sponsor gather data and fill out the survey.

The results will be available in May and will provide valuable benchmarking data on:

  • Plan education
  • Investment options
  • Participation
  • Organization and participant contributions
  • Administration practices
  • New questions on items such as how plan expenses are paid and evaluated

Valuable information for financial professionals and third party administrators

Financial professionals and third party administrators can build relationships and provide a valuable service by telling their 403(b) clients about this opportunity to receive free third-party research.

“Financial professionals and third party administrators can help their 403(b) clients have access to this valuable data by encouraging them to participate in the survey,” said Aaron Friedman, national non-profit practice leader, The Principal®. “When the results are available, financial professionals can meet with clients who completed the survey and help them benchmark. This could provide an opportunity to make recommendations.”

For questions on the survey, or to request hard copies of the survey questionnaire, please contact PSCA at research@psca.org. For more news and insights from The Principal, connect with us on Twitter at http://twitter.com/ThePrincipal.

About the Plan Sponsor Council of America

The Plan Sponsor Council of America (PSCA), a national, non-profit association of 1,200 companies and their six million employees, advocates increased retirement security through defined contribution programs to federal policymakers. PSCA makes practical assistance available to its members with plan design, administration, investment, compliance, and communication materials. PSCA, established in 1947, is based on the principle that “defined contribution partnership in the workplace fits today’s reality.” PSCA's services are tailored to meet the needs of both large and small companies with members ranging in size from Fortune 100 firms to small, entrepreneurial businesses, and non-profit organizations.

About the Principal Financial Group

The Principal Financial Group® (The Principal®)[1] is a global investment management leader including retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $335.0 billion in assets under management[2] and serves some 18.0 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG.

[1]
“The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
[2]
As of December 31, 2011.

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