Judy Diamond Associates Analysis Reveals Major Differences in 401(k) Plan Performance Across Different Industries Nationwide - Judy Diamond Associates, Inc.Judy Diamond Associates, Inc.

Washington, D.C., April 29, 2014 – Judy Diamond Associates, the 401(k) plan intelligence provider of leading financial advisors, brokers and fund companies, today released an analysis that reveals major differences in performance of 401(k) plans across industries.

Looking at the average plan scores for 401(k) plans in 20 different industry classifications, Judy Diamond Associates discovered a 38% difference in the average score between the top ranking industry group, Finance and Insurance, and the lowest ranking group, Accommodation and Food Services.

“While it won’t shock many to learn that financial professionals have the best performing 401(k) plans, when looking at the spread it becomes clear that there’s a real disparity between the top and bottom industries,” said Eric Ryles, managing director of Judy Diamond Associates. “Workers on the bottom rung are faced with special difficulties in saving enough for retirement, and may have to contend with low (or no) employer matches, lack of financial education and sub-optimal contribution rates.”

Plan Scores are calculated using an algorithm that considers key measures of a plan’s performance compared to other plans nationwide. This study looked at the average plan score for each of the 20 highest level industry groupings from within the North American Industry Classification System, encompassing 517,000 plans and $3.47 trillion in total assets. Low plan scores can result from comparatively low participation rates, declines in contributions, a requirement for a plan to issue corrective distributions, or other signs of distress.

Average 401(k) Plan Scores by Industry:

Rank	Row Labels	NAICS code	# of Plans	Avg Plan Score
1	Finance and Insurance	52	35,062	61.8
2	Health Care and Social Assistance	62	100,391	61.6
3	Mining	21	3,073	61.0
4	Utilities	22	1,832	60.7
5	Professional, Scientific and Technical Services	54	112,988	60.4
6	Management of Companies and Enterprises	55	1,760	57.7
7	Wholesale Trade	42	28,549	57.4
8	Information	51	10,303	56.1
9	Agriculture, Forestry, Fishing and Hunting	11	5,417	55.9
10	Public Administration	92	301	55.7
11	Real Estate Rental and Leasing	53	13,879	55.2
12	Other Services	81	27,234	55.1
13	Manufacturing	31-33	61,418	54.4
14	Construction	23	39,490	54.4
15	Educational Services	61	4,412	52.4
16	Administrative and Support and Waste Management and Remediation Services	56	12,576	52.1
17	Transportation and Warehousing	48-49	10,577	51.7
18	Arts, Entertainment and Recreation	71	6,301	51.6
19	Retail Trade	44-45	34,116	51.3
20	Accommodation and Food Services	72	7,698	44.8
	Grand Total		517,377	57.5

Judy Diamond Associates based this research on the most recently available 401(k) plan disclosure documents released by the Department of Labor, which are available in its Retirement Plan Prospector database. Retirement Plan Prospector is an intuitive and comprehensive online sales prospecting and plan analysis tool, providing insights to the defined contribution and defined benefits markets.

For more information about this research, please contact us at www.judydiamond.com/about/contact or follow us on Twitter @401kFacts.

Media Contact
Regina Marie Glick
646-746-8878
[email protected]

Sales Contact
Eric Ryles
202-370-4811
[email protected]