Employees today are getting fewer investment options and more advice in their defined-contribution plans, according to a recent survey of plan sponsors.

The number of investment choices in defined-contribution plans now averages 16, down from 20 in 2001. That compares with an average of 11 investment choices in 1998, according to a tri-annual survey of plan sponsors by institutional investment consulting firm Callan Associates. The survey polled 95 plan sponsors with more than $100 billion in total assets and 1.1million participants.

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