Lexington, KY – The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) has published the third annual benchmarking survey report entitled Perspectives in Practice – A Benchmarking Initiative for Public Sector Defined Contribution Plans, which includes data to help the defined contribution industry better understand trends and identify issues to better serve plan sponsors and plan participants.
The report presents a detailed analysis of key operating data from the government defined contribution industry, based on confidential surveys submitted by 63 individual plans representing $165 billion in total plan assets and 3.1 million individual plan participants. The detailed report allows governmental plans to benchmark with peers, giving key information for plan sponsors to use in making plan design decisions to support improving retirement outcomes.
The detailed report is available to NAGDCA members free of charge and plans that participated in the survey have been granted access to a suite of online tools. In addition to the aggregate industry-wide data, plan sponsors can use the online tool to refine and sort the data by up to eight key factors such as the number of participants, plan type, or total plan assets, resulting in more useful peer group data. The online tool is also available for purchase.
“The Perspectives in Practice report is the most relevant in the industry with respect to public defined contribution plan benchmarking. The comprehensive nature of report as well as the option to create custom plan performance reports versus peers allows plans to quickly view how they measure up in the categories of costs, participation, account balance, plan design features and much more,” said NAGDCA President Cindy Rehmeier.
NAGDCA’s mission is to be a premier provider of education, information, and training, to support plan sponsors and service providers of government-sponsored defined contribution retirement plans in creating successful retirement security outcomes for their plan participants. For more information, visit nagdca.org.