Study Reveals Opportunities to Guide DC Plan Participants

Most defined contribution (DC) plan participants lack a written financial or retirement plan and don't seek an adviser's help.

Two-thirds (65%) of DC participants do not have a written financial/retirement plan and fewer than half (48%) have worked with an adviser when planning for retirement, according to the third annual Participant Experience Study by KK & Company and Mathew Greenwald and Associates.  

The study identified what the companies call an overlooked segment of retirement plan participants. Near-retirees (55 to 70 years old) often have more assets to invest than the average plan participant.  

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

The study found that fewer than a quarter of participants have:

  • $50,000 to $149,000 (21%); 
  • $150,000 to $249,000 (17%); 
  • $250,000 to $499,000 (18%); and 
  • more than $500,000 (10%). 

«