When it comes to a defined contribution retirement plan, how do you define success? If you use investment performance as a key measure, you're not alone. In fact, a 2009 Hewitt Associates study[1] showed that six out of 10 plan sponsors ranked investment performance as one of the top two criteria they use to measure their retirement plan's success.

But while investment performance is an important part of the picture, it's not the whole picture. One big picture measure of retirement plan success might be in the answer to this question: Are plan participants on track for a more financially secure retirement? Those who are on track may be able to replace about 85 percent of their income at retirement.

Clearly, the last few years have been tough on this measure. The markets pounded account balance values, and many participants reduced their salary deferrals—or stopped contributing altogether—as their families dealt with job losses and other financial pressures.