Investment in 403(b) plans continues to rise as both plan sponsors and participants upped their dedication to the retirement savings plans in 2012.

The fifth annual 403(b) plan survey from the Plan Sponsor Council of America found that the majority of 403(b) organizations contributed to their plans in 2012, with the average contribution nearly 10 percent higher than 2011. It also identified opportunities in the 403(b) space that financial advisors and third-party administrators could benefit from.

Sponsored by the Principal Financial Group, the benchmarking survey looks at trends in retirement plans sponsored by nonprofit organizations and public schools, colleges and universities.