What do the industries with the best performing 401(k) plans have in common?

For starters, they tend to be populated with wealthier earners. That helps explain higher contribution rates and account values among industries with the most productive plans, two of the seven plan metrics Judy Diamond Associates uses to gauge plan health in this year's newly released 401(k) Benchmarking Report.

Accountants, lawyers, insurance brokers, dentists, and professionals working in financial services have access to well-performing 401(k) plans. Participants in those industries save aggressively relative to other industries, and their employers, on balance, are willing to invest in the retirement security of their workers with better-than-average contributions, according to JDA, a provider of defined contribution plan analytic tools.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.