While even the smallest of employers are reporting increased success in their participants savings rates and ongoing recruitment benefits in offering a workplace retirement plan, the fiduciary burdens of administering those 401(k) plans are starting to add up for many plan sponsors. Thats leading to suggestions that a relationship with a financial adviser can make life a lot simpler for everyone involved.
In 2013, businesses with less than 20 employees averaged a 7.5% savings. The larger group employers with more 5,000 employees tallied an average 6.7% savings across all industries, according to new analysis of more than 9 million U.S. employees from the ADP Research Institute.
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