Portal Conductor: Warren Cormier

Warren is the author of the "Inside the Plan Participant's Mind" column for NAPA Net the Magazine.

He founded and serves as the President of Boston Research Group. Warren has more than 25 years of quantitative and qualitative experience in financial services research for investment companies (both retail and institutional clients), banks, and insurance companies with particular focus on retirement assets. Warren also partners with NAPA on the NAPA Research Institute, which features cutting-edge research findings for the DC community. In 2007, Mr. Cormier Co-founded the Behavioral Finance Forum with a mission to foster collaboration between the world's leading behavioral finance academics and financial institutions to help consumers make better financial decisions. He serves as Director of Research for both Shawmut Corporation and Bank of Boston and was a partner at Temple, Barker & Sloane. Mr. Cormier is recognized as a market research leader in the Defined Contribution industry and in 2006 was voted one of the Top 20 Most Influential People in the Defined Contribution Industry. Mr. Cormier is also the creator of the DCP 2000- 2008 plan sponsor satisfaction and market dynamics studies.

Article Index

The Paternalization of Participant-Directed Plans

In a white paper published by Arnerich Massena, Inc. in March 2014, the authors review a variety of research studies that look at the investment returns of DC participants’ accounts compared with the returns of index funds, market returns, committee- or trustee-directed defined benefit accounts and asset allocation accounts.   Read More

How Long You Think You Will Live is Connected to Worklife

Every day we find new factors that are affecting participants’ decisions regarding their retirement confidence, savings behavior and worklife. A common theme is that perception is more important than reality. Behavioral economists frequently talk of effects of “framing,” “anchoring” and “subjective self-perceptions” on decision-making and behavior.   Read More

Job Changers and Orphaned DC Accounts

In the 2013 edition of the DCP Online Survey of 7,000 active DC participants, published in June, we focused on the behavior and attitudes of Job Changers — defined as active participants in DC plans who changed a full-time job in the past three years.   Read More

How Does a Provider Best Demonstrate Value? (Part 2)

The Number 1 driver of overall satisfaction is the provider’s ability to demonstrate that the value they deliver is well worth the fees and other costs. But how does a provider demonstrate value? In the second part of a two-part discussion, Warren Cormier of Boston Research Group looks at the role of service excellence.   Read More

How Does a Provider Best Demonstrate Value? (Part 1)

Since 2000, the Boston Research Group’s DCP studies have been measuring plan sponsors’ loyalty and satisfaction with their record keepers and advisors (i.e., providers). The Number 1 driver of overall satisfaction is the provider’s ability to demonstrate that the value they deliver is well worth the fees and other costs. Importantly, loyalty is also highly correlated with value. But how does a provider demonstrate value?   Read More

Are 401(k) Participants Different From 403(b) Participants?

The question in the headline arises from a hypothesis that people who work for not-for-profit organizations are more mission-driven and more sensitive to organizational values, and less concerned about compensation for the work they do. In the 2013 Annual DCP Participant Study conducted by Boston Research Group, the question about the differences and similarities between 401(k) and 403(b) participants was addressed.   Read More

Effects of Fee Disclosure on Participants

Speaking with plan sponsors and record keepers across the DC industry, one would conclude that the much-anticipated fee disclosure to participants was a non-event. Some likened it to the Y2K of the DC industry. The just-completed Boston Research Group annual national survey of 7,000 active DC participants looked into participants’ awareness and reaction to fee disclosure in great detail.   Read More