The Plan Sponsor Council of America's 2012 403(b) survey found that more plans offered automatic enrollment in 2011 compared to 2010 and nearly half offered target-date funds as their default investment option.
The survey, which is conducted every year, also found that catch-up contributions for participants age 50 and older are allowed in 93.3 percent of plans and 13.4 percent of eligible participants made catch-up contributions in 2011.
Nearly 85 percent of employees at respondent organizations were eligible to participate in their organization's 403(b) plan and 77.6 percent of plans were listed as ERISA plans.
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