States with the Worst Plans

The nine states with the majority of their 401k plan participants in low scoring plans are:

State — % of Participants in Low Score Plans

  1. Nevada — 80.6%
  2. Florida — 63.2%
  3. Louisiana — 57.3%
  4. Kentucky — 55.7%
  5. Rhode Island — 54.2%
  6. North Dakota — 53.9%
  7. Idaho — 53.0%
  8. Maine — 51.2%
  9. Maryland — 50.8%

Plan scores are available in Retirement Plan Prospector, Judy Diamond Associates’ 401k analysis and lead generation database. Plans receive scores up to 100 based on information they report to the Department of Labor annually. For the purposes of this study, plans with a score below 50 (on a scale of 1-100) were considered “low.” (Source: Judy Diamond Associates)

Judy Diamond Associates based this research on the most recently available 401k plan disclosure documents, from either 2012 or 2013, 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.

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