Does your retirement plan practice focus mostly on for-profit businesses? If so, you may be missing out on a growing niche—not-for-profit organizations.
In the U.S., nearly 30,000 not-for-profit organizations account for $892 billion in retirement plan assets—with $711 billion (or 80 percent) of that in 403(b) plans alone. Assuming market returns are at historic averages, Spectrem Group projects assets within non-profit defined contribution plans will grow at nine to 10 percent annually over the next five years[1].
That's an opportunity that's too big to ignore. And due to a number of changes in the 403(b) world, not-for-profits are increasingly looking for help.
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