Escalent
Escalent
Cogent Syndicated

DC Participant Planscape looks at the DC plan participant experience and asks participants the questions your firm can’t ask them. The report benchmarks the top plan providers using critical satisfaction measures and examines the attitudes and perceptions that inform participant planning and investing behavior. Maximize participant contributions and engagement levels, assess in-retirement income needs, leverage cross-sell opportunities and attract rollover dollars with this report.

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

  • 4,600 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
  • 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
    and change how plan assets are invested
  • Reasons for increasing and decreasing contribution

Participant Personal Finance and Investing Behavior

  • Confidence in current financial situation
  • Appeal, use and barriers to use of financial wellness components
  • Use of financial advisor, investment representative
  • Likelihood to leave assets with former plan provider
  • Products and accounts most commonly used for retirement

In-retirement Income Needs

  • Confidence in generating income in retirement via specific products vs.
    investment strategies
  • Interest in and barriers to owning in-retirement income products
  • Top retirement income goals
  • Willingness to give up control of investment principal for guaranteed
    income payments
  • Interest in purchasing an annuity inside ESRP

Cross-Sell/Rollover Opportunities

  • Most effective communication method
  • Awareness of the full range of 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

Subscription Details

Publication Date: July 2019
Deliverables:

  • Detailed report including a summary of findings and strategic implications
  • On-site 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_Fact Sheet
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