Industry surveys continue to indicate that while plan outcomes are increasingly part of the focus, they’re rather far down the list of plan success measures. What about the plans you work with – and how do you measure your success with plans?
In the Plan Sponsor Council of America’s 60th annual survey, a whopping 89.6% of plans cite participation rate as a benchmark to determine plan success – and even more (93.2%) of the largest plans rely on that gauge. Deferral rates were a distant second (72.6%), and average account balances ranked third (55%). What about outcomes? Only a quarter of plans used that as a benchmark.
This week, we’d like to know what your plan sponsor clients use as their primary measure(s) of success – what they use as a measure of your success in working with the plan, and what you use to evaluate your own.
Reply to this week’s NAPA Net reader poll at https://www.research.net/r/V69LLCJ.
And we’ll have it all wrapped up for you on Friday!
