2024 Plan Sponsor Attitudes Survey

Supporting plan sponsors and their employees to achieve their goals requires evolving expertise. In its 15th year, this survey reveals current trends to help advisors adapt their business strategy to meet current and future client demands.

Highlight 5: Plan sponsor and recordkeeper relationship

83%of plan sponsors reportthe highest level of satisfactionwith their recordkeeper.

Learn more about the primary sources of information for plan sponsors and the differences plan sponsors experience between advised and non-advised plans. Download our latest highlight revealing actionable advisor insights to help support your client interactions.

Highlight 4: Perspectives on investment menus

90%of plan sponsorsreport plan investmentchanges in the past year.

Increases in the number of CITs (collective investment trusts), index funds and investment options occurred over the past year. In the year ahead, additional income-focused funds and alternative investment funds are expected to be added.

Highlight 3: Retirement benefits and employee readiness

82%of plan sponsors agreeparticipants are saving enoughfor retirement, but only50%of employees retire on time.

Plan sponsors maintain a strong perception that employees are financially preparing for retirement. Sponsors can better meet employee retirement readiness by understanding savings behavior and implementing design features such as a defined retirement income replacement goal.

Highlight 2: Plan design

80% of plan sponsors report satisfaction with achieving plan goals .

In this year's survey, we explore the top plan design changes that occurred last year and we look ahead to upcoming changes. We find 37% of sponsors increased the matching contribution on retirement plans.

Learn more about how well-designed plans impact participant outcomes.

Highlight 1: Plan sponsor and advisor relationship

90% of plan sponsors report that they work with an advisor or consultant .

Use of a plan advisor remains high year over year, with 39% of plan sponsors conducting an advisor search to better understand advisory costs or types of services being offered to others.

To find out the top reasons that plan sponsors meet with prospective advisors, download the first of five highlights revealing actionable advisor insights to help support your client interactions.

Read more about this year's study on how advisor expertise has driven results

About the Study

The 15th edition of our proprietary study uncovers opportunities with plan sponsors across the nation.

  • Based on the responses of 1,174 plan sponsors who use a wide variety of recordkeepers, not just Fidelity
  • Included plans with at least 25 participants and $3 million in assets, from start-ups to plans with more than $250 million in assets
  • Focused on plan sponsors using a financial advisor or plan consultant

Get Your Personalized Survey Review

Contact your Fidelity representative today to review the comprehensive insights from our latest Plan Sponsor Attitudes Survey and how they may apply to your business.

2023 Plan Sponsor Attitudes Survey

To review last year's survey results, check out these highlights:

Related Commentary

View All Commentary

Survey summary: Harris Insights and Analytics, an independent market research company, conducted an online survey of 1,174 plan sponsors on behalf of Fidelity. Fidelity Investments was not identified as the survey sponsor. The survey was conducted during the month of January, 2024. Respondents were identified as the primary person responsible for managing their organization's 401(k) plan. All plan sponsors confirmed their plans had at least 25 participants and at least $3 million in plan assets. Though the survey is broad in scope, the experiences of the plan sponsors participating in the survey may not be representative of all plan sponsors.

 
 

There was an issue with your input
 
OK
 
 

Please confirm
 
OK
   
Cancel