Last year was one of records and firsts for participants in 401(k) plans administered by T. Rowe Price.

The firm's 10th annual Reference Point benchmarking report looks at the plan design features of 636 large 401(k) and 457 plans and the savings habits of 1.6 million participants. All told, the recordkeeping arm of the Baltimore-based money manager serves 1.9 million participants in more than 3,500 defined contribution plans.

Proponents of the defined contribution model will find plenty of grist in this year's report. Plan design informed by new analytic tools, along with financial wellness programs, are driving impressive results, said Aimee DeCamillo, head of T. Rowe Price Retirement Plan Services, in a statement.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 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.