The number of employer-matched defined contribution plans continued to rise last year, a survey by Hewitt Associates found. In 1995, 89% of the 681 employers surveyed offered matched savings plans, compared with 84% in 1990. The number of defined benefit plans dropped slightly to 84% in 1995 from 86% in 1990.
Also, the percentage of 401(k) plans offering more than five investment options burgeoned to 65%, up from just 17% five years earlier. Investment choices for employer contributions to deferred profit-sharing plans also increased dramatically. The number of plans offering five or more options for employer contributions increased to 50% in 1995 from 16% in 1990.