PLANSPONSOR - August - September 2022 - 32

PROVIDER RELATIONSHIPS | DIGITAL RESOURCES
Simplify the Experience
S
to
Give participants the digital resources to engage with their account
ome plan participants are not happy
with their plans' digital features. The
2021 " J.D. Power U.S. Retirement
Plan Digital Satisfaction Study " found that
only 24% of plan investors strongly agreed
that their provider offered proactive guidance
and help. Just 43% found it very easy
to locate the information they were looking
for on their plan's website and mobile app.
The survey also found a wide gap between
the highest- and lowest-rated plans in
terms of participants' digital satisfaction.
So how can plan sponsors work with their
recordkeepers
enhance participants'
digital experience?
Nikunj Patel, product area leader,
employee digital experience at Fidelity
Investments in Merrimack, New
Hampshire, says sponsors should evaluate
multiple features when assessing
a recordkeeper's digital offerings. For
instance, does the recordkeeper present
the organization's brand appropriately in
terms of logo and colors? Can the plan's
site present future marketing campaigns?
It is beneficial for a site to enable a cohesive
approach
to
campaigns,
which
involves alignment between email, phone
guidance and digital channels, Patel says.
A recordkeeper's ability to customize
the site for different groups of employees
is also valuable. Emilio Vera, director
of
participant
engagement
with
Pensionmark Financial Group in Santa
Barbara, California, mentions the need
to effectively communicate with participants
for whom English is a second
language, for example.
" At the end of the day, participants
come to the website and mobile app to
check their balance, " says Nathan Voris,
director of investments, insights
and
consultant services with Charles Schwab
in Richfield, Ohio. Consequently, the
balance should be featured prominently
32 PLANSPONSOR.COM August - September 2022 Art by Simone Virgini
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PLANSPONSOR - August - September 2022

Table of Contents for the Digital Edition of PLANSPONSOR - August - September 2022

INSIGHTS
INDUSTRY ANALYSIS
RULES AND REGULATIONS
UPFRONT
Key Player
Ever Vigilant
Open Season
Simplify the Experience
Connecting One-on-One
The Cost of Protection
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - August - September 2022 - Cover1
PLANSPONSOR - August - September 2022 - Cover2
PLANSPONSOR - August - September 2022 - 1
PLANSPONSOR - August - September 2022 - INSIGHTS
PLANSPONSOR - August - September 2022 - 3
PLANSPONSOR - August - September 2022 - INDUSTRY ANALYSIS
PLANSPONSOR - August - September 2022 - 5
PLANSPONSOR - August - September 2022 - RULES AND REGULATIONS
PLANSPONSOR - August - September 2022 - 7
PLANSPONSOR - August - September 2022 - 8
PLANSPONSOR - August - September 2022 - 9
PLANSPONSOR - August - September 2022 - UPFRONT
PLANSPONSOR - August - September 2022 - 11
PLANSPONSOR - August - September 2022 - 12
PLANSPONSOR - August - September 2022 - 13
PLANSPONSOR - August - September 2022 - 14
PLANSPONSOR - August - September 2022 - 15
PLANSPONSOR - August - September 2022 - Key Player
PLANSPONSOR - August - September 2022 - 17
PLANSPONSOR - August - September 2022 - 18
PLANSPONSOR - August - September 2022 - 19
PLANSPONSOR - August - September 2022 - 20
PLANSPONSOR - August - September 2022 - 21
PLANSPONSOR - August - September 2022 - Ever Vigilant
PLANSPONSOR - August - September 2022 - 23
PLANSPONSOR - August - September 2022 - 24
PLANSPONSOR - August - September 2022 - 25
PLANSPONSOR - August - September 2022 - 26
PLANSPONSOR - August - September 2022 - 27
PLANSPONSOR - August - September 2022 - 28
PLANSPONSOR - August - September 2022 - 29
PLANSPONSOR - August - September 2022 - Open Season
PLANSPONSOR - August - September 2022 - 31
PLANSPONSOR - August - September 2022 - Simplify the Experience
PLANSPONSOR - August - September 2022 - 33
PLANSPONSOR - August - September 2022 - Connecting One-on-One
PLANSPONSOR - August - September 2022 - 35
PLANSPONSOR - August - September 2022 - The Cost of Protection
PLANSPONSOR - August - September 2022 - 37
PLANSPONSOR - August - September 2022 - FIDUCIARY FORUM
PLANSPONSOR - August - September 2022 - INSIDE ANGLE
PLANSPONSOR - August - September 2022 - PLAN PROFILE
PLANSPONSOR - August - September 2022 - Cover3
PLANSPONSOR - August - September 2022 - Cover4
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