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
Plan Design
Plan Design
| Plan Design Elements | |||
|---|---|---|---|
| All Plans | <$1MM | $1MM–$5MM | |
| Automatic enrollment | 46% | 19% | 24% |
| Automatic escalation | 38% | 13% | 17% |
| Investment policy statement | 69% | 35% | 49% |
| Loan provision | 92% | 84% | 89% |
| Safe harbor | 54% | 72% | 66% |
| Roth feature | 72% | 59% | 69% |
| Fee equalization policy | 32% | 17% | 18% |
Participation Eligibility
| All Plans | <$1MM | $1MM–$5MM | |
|---|---|---|---|
| Immediately upon hire | 37% | 22% | 20% |
| Within 3 months of hire | 28% | 21% | 26% |
| Within 4 - 11 months of hire | 13% | 18% | 17% |
| After 1 year from date of hire | 21% | 38% | 35% |
| After >1 year from date of hire | 1% | 2% | 2% |