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
Type(s) of DC Plan(s) Offered
| Top and Bottom 5 Industries for Micro Plans, in Terms of ... |
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|---|---|---|---|---|---|---|---|---|
| Average Participation Rate |
Average Account Balance |
Average Deferral Rate |
Immediate Eligibility |
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| 1 | Accounting | 92.7% | Law firms | $184,592 | Chemicals | 8.2% | Education: K–12, preschool | 76.6% |
| 2 | Banking: Commercial | 90.3% | Utilities | $160,925 | Consulting | 8.1% | Religious/ Social svcs |
48.0% |
| 3 | Insurance/ Reinsurance |
88.8% | Membership | $124,618 | Engineering | 7.8% | Education: Higher ed |
46.1% |
| 4 | Financial services | 88.6% | Accounting | $121,511 | Financial services | 7.7% | Oil & gas/Energy |
45.0% |
| 5 | Holding co’s/ Inv banking |
87.6% | Financial services | $114,493 | Technology | 7.6% | Govt: County/ State/Federal |
41.6% |
| 44 | Health care (not for profit) |
62.9% | Transportation/ Airlines |
$38,511 | Health care (not for profit) |
4.9% | Hotels/ Gaming |
3.5% |
| 45 | Govt: County/ State/Federal |
61.2% | Religious/ Social svcs |
$37,593 | Govt: County/ State/Federal |
4.8% | Aerospace/ Defense |
0.0% |
| 46 | Transportation/ Airlines |
59.5% | Education: Higher ed |
$25,981 | Transportation/ Airlines |
4.6% | Pharmaceuticals | 0.0% |
| 47 | Education: K–12, preschool | 58.1% | Restaurants/ Food service |
$24,439 | Utilities | 4.5% | Restaurants/ Food service |
0.0% |
| 48 | Restaurants/ Food service |
57.5% | Automotive: Manufacturing |
$23,197 | Automotive: Manufacturing |
4.0% | Automotive: Manufacturing |
0.0% |
| Type(s) of DC Plan(s) Offered | |||
|---|---|---|---|
| All Plans | <$1MM | $1MM–$5MM | |
| 401(k) | 87% | 91% | 92% |
| 403(b) | 11% | 6% | 7% |
| 457 | 11% | 4% | 5% |
| Money purchase | 2% | 1% | 1% |
| Profit sharing | 19% | 14% | 17% |
| ESOP1 | 3% | 0% | 2% |
| Nonqualified deferred compensation (NQDC) | 8% | 1% | 1% |
| SEP2 | 1% | 1% | 1% |
| SIMPLE IRA3 | 1% | 2% | 1% |
| Other | 2% | 2% | 1% |
|
1Employee stock ownership plan. 2Simplified employee pension. 3Savings incentive match plan for employees individual retirement plan. |
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