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May 11, 2010 at 08:00 PM
Larger nonprofit employers are more likely than smaller nonprofits to make signing up for the retirement plan the default option.
Researchers at the Profit Sharing/401k Council of America, Chicago, have published figures quantifying that finding in a summary of results from a recent survey of 552 403(b) plan sponsors.
The sponsors used 2009 plan-year experience to answer the questions.
About 11% of the participating sponsors use automatic enrollment mechanisms either for new hires or for all non-participants, according to the PSCA.
Prevalence of use of auto enrollment ranged from 5.8% at plans with 1 to 49 participants up to about 22% at plans with more than 1,000 participants.
