Survey Data: Respondent Profile
Respondent Profile
| Types of Defined Contribution Plan(s) Offered |
|---|
|
| 401(k) | 87.8% |
| 403(b) | 4.9% |
| 457 | 15.9% |
| Length of Time Working With Current Adviser or Advisory Team |
|---|
|
| Less than 1 year | 1.2% |
| 1 – 3 years | 14.6% |
| 3 – 5 years | 12.2% |
| 5 – 7 years | 17.1% |
| More than 7 years | 54.9% |
| Rating of the Overall Service Received From Adviser or Advisory Team |
|---|
|
| Excellent (consistently exceeds expectations) | 66.2% |
| Good (consistently meets expectations) | 21.5% |
| Satisfactory (usually meets expectations, sometimes does not) | 9.2% |
| Poor (consistently falls below expectations) | 3.1% |
| Adviser Fiduciary Status Served in Relation to the Plan* |
|---|
|
| 3(38) investment manager (has discretion over investments) | 28.2% |
| 3(21) investment adviser (provides advice about investments, but sponsor retains decision) | 59.0% |
| Not a fiduciary | 2.6% |
| Unsure | 10.3% |
| Quantity of Assets in the Designated DC Plan |
|---|
| With adviser | Without adviser* |
|---|
| Less than $1 million | 3.7% | 16.5% |
| $1 million - $5 million | 10.3% | 23.9% |
| >$5 million - $10 million | 9.9% | 10.8% |
| >$10 million - $25 million | 19.6% | 13.1% |
| >$25 million - $50 million | 13.3% | 6.8% |
| >$50 million - $100 million | 9.5% | 8.5% |
| >$100 million - $200 million | 8.7% | 6.3% |
| >$200 million - $500 million | 9.8% | 3.4% |
| >$500 million - $1 billion | 4.8% | 1.7% |
| More than $1 billion | 10.4% | 9.1% |
| Participants in the Designated DC plan |
|---|
| With adviser* | Without adviser* |
|---|
| Less than 50 | 12.9% | 37.6% |
| 50 - 99 | 11.2% | 14.1% |
| 100 - 499 | 30.2% | 22.9% |
| 500 - 999 | 10.6% | 5.3% |
| 1,000 - 4,999 | 21.4% | 8.2% |
| 5,000 - 9,999 | 4.9% | 3.5% |
| 10,000 - 19,999 | 3.8% | 3.5% |
| More than 20,000 | 4.9% | 4.7% |
Footnote:
*Numbers do not add up to 100% due to rounding errors
