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News & Press: DCIIA News

Just Published: Plan Sponsor Survey on Impact of Coronavirus

Tuesday, June 23, 2020   (0 Comments)
Posted by: Karen Witham
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DCIIA’s Retirement Research Center is pleased to announce the publication of COVID-19 Plan Sponsor Pulse Survey Results. This report offers highlights from the RRC’s recent survey of its Plan Sponsor Steering Committee and other plan sponsors.

Access the report in our Resource Library

Read the Report PDF

Highlights include:

Coronavirus-related distributions (CRDs): The results show broad actual or planned implementation (80%+) of all the CARES Act features with two exceptions: Only 42% have implemented or plan to implement “repayment of previously distributed RMDs” and even less (30%) have implemented or plan to implement the “increased loan limits up to $100,000.”

Employer match: Only 8% of plan sponsors have suspended their employer match and only 3% have reduced their employer match. None of the respondents have suspended or are planning to reduce their non-matching contributions.

Staffing: Regarding changes to staffing due specifically to the COVID-19 crisis, half of the plan sponsors have introduced company-wide hiring freezes and about a third have introduced hiring freezes or decreased hours in certain departments. 13% have had layoffs.

The report also touches on participant communications and behavior and additional plan sponsor considerations. It provides both quantitative and qualitative results.

If you have questions about the survey, please contact DCIIA RRC Executive Director Warren Cormier,

DCIIA’s Retirement Research Center conducts rigorous, industry-informed research that is grounded in a practical approach focused on actionable insights. We adhere to a disciplined research methodology, governance and validation process. Our goal is to serve the industry as a reliable, unbiased, and authoritative research resource supporting improved retirement security—be it through plan design, institutional practices, investment solutions, or behavioral interventions.