Not all 401(k)s are created equal, but they represent a powerful tool for many workers to prepare financially for life after work. Simply put, some industries have employment practices and working conditions that are conducive to retirement preparedness, while others do not.
This is one of the big takeaways from a new 401(k) plan benchmarking report published by Judy Diamond and sponsored by Mutual of America. As the authors explain, there are dramatic differences across industries when it comes to average account balances, participation rates, employee tenure, rate of return and other metrics.
Judy Diamond, a business unit of BenefitsPro's parent company, ALM, annually publishes industry rankings of employer-sponsored plans through an examination of every active 401(k) plan. The goal of this research is to provide a data-oriented analysis of different industries, how their collective 401(k) plans are performing and how that compares to other industry groupings.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Manganaro
John Manganaro is a senior reporter for ThinkAdvisor. His coverage focuses on all things retirement, with a special emphasis on the perspective of financial planning professionals and family wealth managers. Before joining ThinkAdvisor in 2022, John was a reporter and editor at PLANADVISER Magazine, and earlier in his career his coverage of the Pennsylvania Legislature regularly appeared in premier metropolitan newspapers including the Philadelphia Inquirer and the Pittsburgh Post-Gazette. He can be reached via at [email protected], on X at @manganaro_news, and on LinkedIn at https://www.linkedin.com/in/manganaronews/.
