Filed Under:Markets, Employee Benefits

DC plan participation: Set it and forget it?

Here’s the good news: A study from Aon Hewitt finds that employee participation in defined contribution (DC) plans is at an all-time high. Yet once they enroll, employees fail to make adequate adjustments to their contributions to support long-term savings goals.

For the study, Aon Hewitt reviewed more than 140 DC plans that represent 3.5 million eligible employees. It found that, on average, 78 percent of employees participated in their DC plans in 2012, up from 75 percent in 2011 and 68 percent in 2002, the first year Aon Hewitt began tracking the data. In addition, average total DC plan account balances have risen to $81,240, the highest level since 2006 and a marked increase from the $57,150 sum recorded in 2008.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date

Provided by LIFEHEALTHPRO

Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.