The number of defined contribution plans nationally fell in 2012, although the total number of participants, and their contributions, grew, according to a newly released analysis of Form 5500 data.
The analysis by the Employee Benefits Security Administration division of the Department of Labor shows there were 632,970 DC plans that year, the latest for which data was available.
That’s down from the 638,390 plans recorded in 2011 and even further from the 669,157 in 2008. The financial crisis set off a streak of four consecutive years in declines in the total number of DC plans.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
