RESEARCH |
2018
PLANADVISER Micro Plan Survey
Reported by PLANADVISER
| Art by Claire Merchlinsky
Industry Data
Results
Results
Participation Rate (Average)
Participation Rate (Median)
Account Balance (Average)
Account Balance (Median)
| Participants Making Hardship Withdrawals | |||
|---|---|---|---|
| All Micro | <$1MM | $1MM–$5MM | |
| Average | 1% | 1% | 1% |
| Median | 0% | 0% | 0% |
| Participants With Loans Outstanding | |||
|---|---|---|---|
| All Micro | <$1MM | $1MM–$5MM | |
| Average | 10% | 8% | 10% |
| Median | 6% | 1% | 8% |
| Success Measures Used | |||
|---|---|---|---|
| All Micro | <$1MM | $1MM–$5MM | |
| Participation rates | 44% | 33% | 51% |
| Deferral rates | 30% | 24% | 32% |
| Employee satisfaction with plan (survey) | 13% | 10% | 15% |
| External benchmarking of plan design | 12% | 7% | 14% |
| Participants saving to match | 9% | 4% | 10% |
| Participants increasing deferral rates in past year | 4% | 2% | 4% |
| Participants using advice tools/seminars offered | 3% | 2% | 4% |
| Participants meeting projected monthly goals | 3% | 4% | 3% |
| We have no formal plan success measures | 43% | 57% | 38% |