Escalent
Escalent
Cogent Syndicated

DC Participant Planscape asks DC participants the questions your firm can’t and offers firms a unique understanding of what drives participant contribution
and investment behavior. The report benchmarks the top plan providers on key satisfaction drivers and brand engagement metrics, monitors the brand perceptions of leading investment account providers and identifies the firms best positioned to capture rollover assets.

Value

The report will enable subscribers to:

Boost Participant Satisfaction
Uncover the features, offerings and retirement tools participants want from providers to maximize satisfaction and retain assets

Identify New Opportunities
Develop successful cross-sell programs and validate participants’ desire for additional contact from plan providers

Attract Rollover Dollars
Identify the factors participants consider when selecting a rollover IRA provider to keep current-plan assets in-house and attract new rollover dollars

Methodology

  • 4,000 DC plan participants actively contributing to a DC plan and/or having at least $5,000 in a former employer’s DC plan
  • Web-based survey
  • Statistically representative sampling using US census data to mirror the engaged participant universe by gender, region, age, education and household income

Areas of Inquiry

Plan Provider Satisfaction and Loyalty

  • Satisfaction with provider relationship across key attributes
  • Drivers of satisfaction
  • Current and desired contact
  • Provider websites: login rates, drivers/barriers and ways to boost visits
  • Advice and guidance needs for retirement planning
  • Loyalty to current plan provider

Participant Contribution Behavior

  • Time contributing to an ESRP
  • Use of automatic plan features
  • Reasons for increasing or decreasing contribution
  • Investment options used within ESRP

Participant Mindset

  • Assessment/outlook of current financial situation
  • Lingering sources of stress stemming from COVID-19
  • ESRP-related anticipated actions/actions taken by participants
  • Best ways for providers to show they care

Financial Wellness and Retirement Readiness

  • Appeal, use and barriers to use of financial wellness components
  • Interest in 401(k) student loan match
  • Health savings account (HSA) use
  • Use of financial advisor or investment representative
  • Estimated retirement savings goal
  • Preferred means of accessing retirement savings
  • Anticipated allocation of retirement savings spending

Cross-Sell/Rollover Opportunities

  • Most effective communication method
  • Awareness of all provider products and services
  • Drivers of consideration of products and services outside the plan
  • Perception of retirement planning services and solutions of top firms
  • Likelihood to leave assets with former plan provider
  • Consideration of top providers for rollover IRAs and taxable brokerage accounts

Subscription Details

Publication Date: July 2021
Deliverables:

  • Detailed report including a summary of findings and strategic implications
  • Strategy session and presentation designed to deliver actionable results and facilitate strategic planning
  • Custom data cuts and survey work by senior analysts

Investment: $35,000

DC Participant Planscape_2021 Fact Sheet
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