RESEARCH |
2019
PLANADVISER Micro Plan Survey
Our annual gathering of data on plans with less than $5 million in assets points to a promising market for advisers
Reported by PLANADVISER
| Art by JooHee Yoon
Industry Data
DC Providers
DC Providers
Length of Relationship With Provider
| All Plans | <$1MM | $1MM–$5MM | |
|---|---|---|---|
| >1 year | 4% | 5% | 3% |
| 1 year to 3 years | 13% | 21% | 17% |
| >3 years to 5 years | 14% | 20% | 19% |
| >5 years to 7 years | 12% | 11% | 13% |
| >7 years | 54% | 33% | 42% |
| Unsure/Don’t know | 3% | 9% | 5% |
| Frequency of Formal Review of Providers | |||
|---|---|---|---|
| All Plans | <$1MM | $1MM–$5MM | |
| Annually | 62% | 58% | 63% |
| Every 1 to 2 years | 10% | 10% | 11% |
| Every >2 to 3 years | 9% | 7% | 6% |
| Every >3 to 5 years | 7% | 4% | 4% |
| Every >5 years | 3% | 3% | 2% |
| Unsure/Don’t know | 9% | 19% | 15% |