NAGDCA 2008 Survey of Defined Contribution Plans
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INTRODUCTION As the Survey Task Force Chair for the National Association of Government Defined Contribution Administrators (NAGDCA), it is my pleasure to present the 2008 State and Local Government Defined Contribution Plan Survey. Responses were received from a total of eighty-six 457 plans, sixteen 401(k) plans, sixteen 401(a) plans, and one 403(b) plan for a total of 119 survey respondents. As you may know, NAGDCA was founded in 1980 to fulfill the need for the sharing of information among government defined contribution administrators. Beginning in 1983, when the 457 Plan Survey was first sent out, it has been NAGDCA's most important means of distributing information to the association. Since then, the survey has been conducted every two years and has proven to be an exceptional source of information for NAGDCA's government and industry members, as well as for everyone involved in the broader spectrum of the government defined contribution community. This information is routinely used to aid in structuring plan design, networking among plan members, and informing our legislators and policymakers of the trends in the industry. This project has evolved significantly since its inception in 1983. Survey respondents answered the survey online and survey results can be viewed by clicking the links provided below. No hardcopies of the 2008 survey will be published. I would like to thank the plan sponsors and administrators who took the time to complete the survey and provide NAGDCA with valuable insight about the details of their plans. Without the contributions of these individuals, NAGDCA could not provide this valuable information. This report contains two sections. The National Summary provides a narrative overview of the key areas involved in administering governmental 457, 401(k), 401(a), and 403(b) plans. The survey also provides a pdf of the Overall Survey Results, which offers a look at the survey through charts and responses from all participating entities. This survey offers as much information as possible based on the answers submitted by the survey respondents. Responses reflect the details of the individual member plans as of December 31, 2007. Please note that not all of the survey respondents answered all survey questions. Every effort was made by the task force to ensure accuracy of the survey, and the information contained herein is accurate to the best of our knowledge. If you have questions about the information provided within this report, please contact NAGDCA Headquarters for answers to specific questions you may have. Finally, I would like to thank the members of the Survey Task Force, whose names are listed below, for volunteering time from their busy schedules. It is through their efforts that projects such as this are successful and beneficial to the association. We hope this information will be useful to government 457, 401(k), 401(a) and 403(b) plan sponsors in the administration of their own plans, and we welcome any comments or suggestions you may have regarding this publication. David Thurman Rebecca Gill Keith Overly Andy Silva Jo Ann Vondracek Edward Zagajeski |
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