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From Spencer's Benefits Reports: There were 1,755 new cash balance plans established during the five-year period from 2002 through 2006. This represents a 307% increase over the 571 new cash balance plans created from 1997 through 2001, according to statistics compiled by Louis Kravitz & Associates.
Distribution by plan size as of Dec. 31, 2006, was as follows:
| Active Participants | # Of Plans | % Of Total |
| More than 10,000 | 228 | 6% |
| 9,999 to 1,000 | 510 | 14 |
| 999 to 100 | 444 | 12 |
| 99 to 25 | 560 | 16 |
| 24 to 10 | 771 | 21 |
| 9 or fewer | 1,075 | 30 |
The largest number of plans was found in California (462), followed by New York (405), Ohio (293), Illinois (253), New Jersey (237), Pennsylvania (196), Texas (164), Michigan (146), Minnesota (138), and Florida (118).
The medical field was most likely to sponsor a cash balance plan (28% of plans), followed by manufacturing (14%), dental services (9%), legal services (9%), scientific and technical industries (7%), and financial services (6%). Three business types represented 3% of the plans each: insurance services; construction and development; and products, goods, and supplies. Utilities represent 2% of the plans, while the remaining 16% represented “other” business types.
Smaller plans dominated cash balance plans, as follows:
| Asset Size | % Of Plans |
| Less than $250,000 | 28% |
| $250,000 to $499,999 | 17 |
| $500,000 to $999,999 | 13 |
| $1 million to $9.9 million | 17 |
| $10 million to $99.9 million | 13 |
| $100 million to $1 billion | 9 |
| More than $1 billion | 3 |
For more information, visit http://www.cashbalancedesign.com.
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
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