Description
Title: Report
Summary
The 2026 PLANSPONSOR Defined Contribution Survey provides insights into retirement plans within the Government/Public Works sector, specifically for city and municipal entities, including Delray Beach. The report indicates that 228 respondents from this sector participated, revealing a diverse range of plan types, with 48.2% classified as 'Micro' plans. Key findings include participation rates averaging 63.7% and average account balances of $54,002, highlighting financial wellness issues among employees. Legislation surrounding retirement plans is crucial for ensuring equitable access to benefits, which directly impacts employee retention and satisfaction. This report serves as a valuable tool for policymakers and city officials in Delray Beach to assess the effectiveness of their retirement programs and make informed decisions regarding improvements or reforms