The survey also showed the majority of plans offer several types of distribution options, including lump sums, partial withdrawals, installment payments and in-service withdrawals.
Investment fees constitute the 80% of a sponsor’s total plan cost, while plan administration fees account for 14% of total costs.
“While ESG continues to be a key discussion topic around the financial world, adoption of ESG-related plan menu options has not mirrored ESG adoption in other sectors,” NEPC said. “Just over 8% of all plans offer an ESG-related option. The type of plan is a large driver of adoption, with more than 13% of health-care plans including an ESG option, compared to just 4% of corporate plans.”