What do the industries with the best performing 401(k) plans have in common?
For starters, they tend to be populated with wealthier earners. That helps explain higher contribution rates and account values among industries with the most productive plans, two of the seven plan metrics Judy Diamond Associates uses to gauge plan health in this year's newly released 401(k) Benchmarking Report.
Accountants, lawyers, insurance brokers, dentists, and professionals working in financial services have access to well-performing 401(k) plans. Participants in those industries save aggressively relative to other industries, and their employers, on balance, are willing to invest in the retirement security of their workers with better-than-average contributions, according to JDA, a provider of defined contribution plan analytic tools.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
