Alight Solutions’ Trends & Experience in Defined Contribution Plans has focused on employer trends related to retirement plan offerings, provisions and investments since 1991, making this the perfect year to review how defined contribution plans have evolved over the last 30 years. The plan sponsors who responded to the survey have a combined total of 6.4 million employees and over $685 billion in assets. The median number of employees is 7,500 and the median plan size is $1.8 billion. The average number of employees is 33,600 and the average plan size is $4.7 billion.
We found three overarching trends for DC plans in 2021: defined contribution plans have become the primary retirement vehicle, employers are encouraging participation in plans, and enhancements are helping money grow for retirement.
For more in-depth benchmarking, including prevalence on employer match formulas, automatic features, investment offerings and more, purchase the full report!
Want to see highlights first? Check out our infographic.