Assets invested in defined contribution accounts and individual retirement account rollovers now total $7.8 trillion, according to new research from the Plan Sponsor Council of America (PSCA).
PSCA’s 56th Annual Survey reports on the 2012 plan-year experience of 686 plans with 10.3 million participants and $769 billion in plan assets. Among other topics, the survey includes: Percentage of plans with a frozen DB plan; the average company contribution by type of contribution (match and non-match); average number of funds offered per asset class; glide paths and management styles of target date funds; and percentage of plans offering comprehensive financial education programs.
“Those critical of the DC system in the past thought that the system would collapse during a sharp economic downturn,” says PSCA Executive Director Bob Benish. “They were wrong.”