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
Automatic Features
Automatic Features
Auto-Enrollment Default Deferral Rate
| All Plans | <$1MM | $1MM–$5MM | |
|---|---|---|---|
| <3% | 11% | 20% | 12% |
| 3% | 39% | 45% | 42% |
| >3% – 5% | 24% | 20% | 20% |
| >5% | 26% | 16% | 27% |
Re-Enrollment Actions Taken in Past 12 – 18 Months
| All Plans | <$1MM | $1MM–$5MM | ||
|---|---|---|---|---|
| Re-enrolled employees not participating in the plan (requiring them to opt out again or else be enrolled) | 18% | 12% | 13% | |
| Re-enrolled participants saving below the default deferral rate (thus boosting their deferral rate) | 11% | 5% | 4% | |
| Re-enrolled participants not invested in the default investment (meaning current/ future contributions go into the plan default investment) | 3% | 2% | 1% | |
| We have not re-enrolled any employees/ participants | 78% | 82% | 85% | |