RESEARCH |
2018
PLANADVISER Micro Plan Survey
Reported by PLANADVISER
| Art by Claire Merchlinsky
Industry Data
Plan Design
Plan Design
| Plan Design Elements | |||
|---|---|---|---|
| All Micro | <$1MM | $1MM–$5MM | |
| Automatic enrollment | 20% | 16% | 21% |
| Automatic escalation | 13% | 12% | 14% |
| Investment policy statement | 42% | 29% | 48% |
| Loan provision | 73% | 67% | 75% |
| Safe harbor | 66% | 75% | 63% |
| Roth feature | 62% | 58% | 63% |
| Fee equalization policy | 15% | 17% | 14% |
Participation Eligibility
| All Micro | <$1MM | $1MM–$5MM | |
|---|---|---|---|
| Immediately upon hire | 20% | 23% | 18% |
| Within 3 months of hire | 22% | 17% | 24% |
| Within 4 to 11 months of hire | 16% | 12% | 18% |
| After 1 year from date of hire | 40% | 44% | 38% |
| After >1 year from date of hire | 2% | 3% | 2% |