Average company matches to retirement plans have nearly doubled since 2011, according to the Plan Sponsor Council of America’s 60th annual survey of profit-sharing and 401(k) plans.
In 2016, employers averaged contributions of 4.7 percent of salary to standalone 401(k) plans — those employers that don’t also offer a defined benefit plan or profit-sharing plan. That’s up from 3.7 percent in 2015, and 2.4 percent in 2011.
Lower wage workers are also posting increased contribution rates, according to the study, which looked at 325 401(k) plans, and 259 employers that sponsor a profit-sharing plan alongside a defined contribution option. About 37 percent of surveyed plans had more than $100 million in assets; 38 percent had more than 1,000 participants.
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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.
