Strategic Insight business BrightScope, in partnership with the Investment Company Institute, has released a joint research study on ERISA 403(b) plans.
“The BrightScope/ICI Defined Contribution Plan Profile: A Close Look at ERISA 403(b) Plans, 2015“ finds that the average large 403(b) plan subject to the Employee Retirement Income Security Act of 1974 offered 27 “core” investment options in 2015.
In that year, the research found, nearly all large ERISA 403(b) plans included domestic equity funds, international equity funds and domestic bond funds in their core investment offerings. In addition, close to 90% of large plans offered fixed annuities — with those products making up 22% of assets and variable annuities, including VA mutual funds, making up 24%. More than 80% of the plans offered target date funds.