Flash Survey Results: Retirement Savings Plans

The OperationsInc Flash Survey “Retirement Savings Plans” explores how many participating companies offer Employer-sponsored retirement plans, how many employees enroll in these plans, and what types of plans are offered.

For the complete results, including results by company size, please click here.


EMPLOYER-SPONSORED PLANS

Key Findings:

  • 92% of respondents offer Qualified Retirement Plans.
  • Over 39% of respondents offer Roth 401(k) plans.
  • Of those respondents who offer Qualified Plans, 43% offer Roth 401(k) plans as well.
  • Less than 10% of respondents offer Defined Benefits Pension Plans
  • 8% of respondents do not offer any employer-sponsored retirement savings plans.

COMPANY CONTRIBUTIONS

Key Findings:

  • Over 57% of respondents offer Employee Contribution Matching.
  • 17% of respondents offer profit sharing, and another 17% do not provide any employer contribution.
  • Of those who provided comments, several mentioned other types of employer contribution options such as a safe harbor account, discretionary matching, and defined contribution pension plans.

PARTICIPATION RATE

Key Finding:

  • Over 63% of respondents indicated that more than half of their eligible employees participate including 8% of respondents with a 100% participate rate.
  • 28% of respondents have a participation rate of 50% or less including 8% who have a participation rate of 10% or under.

COMPANY SIZE

Key Finding:

  • 17.19% of respondents have 50 or fewer employees.
  • 29.69% of respondents have 51 to 100 employees.
  • 26.56% of respondents have 101 to 250 employees.
  • 26.56% or respondents have more than 250 employees.

ADDITIONAL INFORMATION

  • Survey Time Period: October – November 2017
  • Number of Participating Companies: 64
  • Regional Concentration: Fairfield County, CT / New York Metro area

For additional information about this survey and our services, please contact Meghan Hopkins, VP of HR Business Development, at 203-595-4261 or mhopkins@OperationsInc.com