More than a third of businesses that sponsor 403(b) plans reported that participation rates have increased during the past three years, according to a study by the Profit Sharing/401(k) Council of America and sponsored by Principal Financial Group Inc.

The study found that 50.8 percent of respondents increased employee education in the past year. The survey also reports that 73 percent of 403(b) sponsors continued making employer contributions to their plans and 40 percent plan to restore matches after previously suspending them.

A 403(b) plan is a retirement plan, similar to a 401(k), for university, civil government and nonprofit organization employees.