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

Plan Provider Satisfaction and Loyalty

• Satisfaction with provider relationship across key attributes
• Drivers of satisfaction
• Current and desired contact
• 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
• Likelihood to increase contribution
• Ready-to-act participant segment: Likelihood to increase contribution/change how plan assets are invested
• Reasons for increasing or decreasing contribution
• Investment options used within ESRP (e.g., traditional and indexed mutual funds, ETFs, managed accounts, retirement income products)

Participant Personal Finance and Investing Behavior

• Appeal, use and barriers to use of financial wellness components
• Interest in student loan ESRP match
• Health savings account (HSA) use and employer promotion as an investment vehicle
• Use of financial advisor or investment representative
• Likelihood to leave assets with former plan provider
• Products and accounts used most for retirement

Impacts of COVID-19 Pandemic

• Biggest financial/investment fears
• Confidence in the global economy and projected US economic outlook
• Quantitative and qualitative impact on investment decisions
• ESRP-related actions taken by participants (hardship withdrawals/loans, decreasing contributions, etc.)

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
• Consideration of top providers for rollover IRAs and taxable brokerage accounts