Search the News Archive

The Brightscope/ICI Defined Contribution Plan Profile: A Close Look at 401(k) Plans, 2022 (PDF)

80 pages; Mar. 2025. "More than half of large 401(k) plans in the sample ... reported that they automatically enrolled their participants ... 88 percent of large 401(k) plans, covering more than nine out of 10 401(k) participants, had employer contributions.... In 2022, the average large 401(k) plan offered 29 investment options ... CITs held 43 percent of large private-sector 401(k) plan assets in the sample in 2022.... In 2022, the average total plan cost was 0.85 percent of assets, down from 1.02 percent in 2009."

The Brightscope/ICI Defined Contribution Plan Profile: A Close Look at 401(k) Plans, 2020 (PDF)

80 pages. "Most 401(k) plans offer employer contributions.... Larger 401(k) plans are more likely to report participant loans outstanding.... Mutual funds were the most common investment vehicle in 401(k) plans.... Equity funds accounted for the largest share of assets in 401(k) plans.... Index funds make up a significant component of 401(k) assets, holding 41 percent of 401(k) assets in 2020.... Most 401(k) plans offered investment options that were proprietary to the plan's recordkeeper, but proprietary investments accounted for a small share of total 401(k) assets."

Brightscope/ICI Data Show Employer Commitment to 401(k) Plan Saving

"In 2019, 87 percent of large 401(k) plans, covering more than 90 percent of 401(k) participants, had employer contributions. Employer contributions represented 31 percent of total contributions going into large 401(k) plans in 2019.... [L]arge 401(k) plans offer participants, on average, 28 investment options.... In 2019, 86 percent of large 401(k) plans offered target date funds (10, on average)."

Real Facts About Target Date Funds in Response to ICI's Myths and Facts (PDF)

9 pages. Excerpt: In January, the Investment Company Institute ... released a set of 6 'Myths' about Target Date Funds. The ICI list misrepresented many of the basic facts about target date funds and painted an overly rosy picture of the target date fund marketplace. This paper intends to set the facts straight. In so doing we received comments and thoughts from Joe Nagengast and Craig Isrealsen of Target Date Analytics and from Independent Fiduciary Matthew Hutcheson. This paper will look at how target date funds fit into America's retirement picture and address the 6 'Myths' identified by the ICI.

A Close Look at 401(k) Plan Design, Investments and Fees Using 2016 Data (PDF)

84 pages. "Larger 401(k) plans are more likely to report that they automatically enroll workers into the plan.... More than 90 percent of 401(k) plans in the sample with more than $50 million in plan assets had participant loans outstanding, compared with ... 36 percent of plans with less than $1 million.... In 2016, more than three-quarters of the large 401(k) plans in the sample with automatic enrollment also had both employer contributions and participant loans outstanding, compared with less than two-thirds of plans in the sample without automatic enrollment."

A Close Look at 401(k) Plans, 2014 (PDF)

"Larger 401(k) plans tend to be more likely to have employer contributions, participant loans outstanding, and automatic enrollment.... 401(k) plans with automatic enrollment are more likely to have both employer contributions and participant loans outstanding than plans without automatic enrollment.... Mutual funds were the most common investment vehicle in 401(k) plans.... Target date funds have become more common in 401(k) plans since 2006.... Most 401(k) plans offered investment options that included investment options proprietary to the plan's recordkeeper, but proprietary investments accounted for a smaller share of total 401(k) assets."

Defined Contribution Plan Profile: A Close Look at 401(k) Plans During 2013 (PDF)

74 pages. "Larger 401(k) plans tend to be more likely to have employer contributions, participant loans outstanding, and automatic enrollment.... 401(k) plans with automatic enrollment are more likely to have both employer contributions and participant loans outstanding than plans without automatic enrollment.... Mutual funds were the most common investment vehicle in 401(k) plans.... Equity funds accounted for the largest share of assets in 401(k) plans.... Target date funds have become more common in 401(k) plans since 2006.... Most 401(k) plans offered investment options that included investment options proprietary to the plan's recordkeeper, but proprietary investments accounted for a smaller share of total 401(k) assets.... Mutual fund expense ratios in 401(k) plans tend to be lower in larger plans and have trended down over time."

A Close Look at ERISA 403(b) Plans, 2021 (PDF)

68 pages. "About half of ERISA 403(b) plan participants are in hospital plans, which held 38 percent of ERISA 403(b) plan assets in plan year 2021.... In 2021, more than four-fifths of large ERISA 403(b) plans covering three-quarters of large ERISA 403(b) plan participants had employer contributions.... Among large ERISA 403(b) plans with employer contributions in 2021, 33 percent had automatic employer contributions.... 53 percent had simple matches, and 10 percent had both of these features.... 72 percent of large ERISA 403(b) plans had participant loans outstanding,"

Defined Contribution Plan Profile: A Close Look at 401(k) Plans (PDF) (PDF)

"In 2012, the average 401(k) plan offered 25 investment options, of which about 13 were equity funds, three were bond funds, and six were target date funds.... [A]bout 70 percent of plans offered a suite of target date funds.... [T]he percentage of participants that were offered target date funds increased from 39.5 percent of participants to 69.8 percent between 2006 and 2012, and the percentage of assets invested in target date funds increased from 3.0 percent to 13.4 percent.... Forty percent of 401(k) plans had a simple match formula in 2012 ... Seventeen percent of plans had no employer contributions."

A Close Look at ERISA 403(b) Plans, 2020 (PDF)

68 pages. "In 2020, more than four-fifths of large ERISA 403(b) plans covering more than three-quarters of large ERISA 403(b) plan participants had employer contributions.... Among large ERISA 403(b) plans with employer contributions in 2020, 35 percent had automatic employer contributions, 58 percent had simple matches, and 14 percent had both of these features.... 64 percent of large ERISA 403(b) plans had participant loans outstanding, ... Mutual funds were the most common investment vehicle ... with 66 percent of large ERISA 403(b) plan assets in 2020. Fixed annuities held 16 percent of assets, and variable annuities held 18 percent"