PLANSPONSOR - December 2021 - January 2022 - 22

2021 PLANSPONSOR BEST IN CLASS DC PROVIDERS
their provider should check the segment corresponding to the
size of their plan. Plan sponsors might also look especially closely,
experts say, at the areas of differentiation described below-these
require special due diligence.
Plan Sponsor Needs
This past November, the SPARK [Society of Professional Asset
Managers and Recordkeepers] Institute asked advisers to rank
more than a dozen products and services they want, and need,
from recordkeepers. Cybersecurity and fraud protection topped
the list. And, as Tim Rouse, executive director of the institute,
which is located in Wrentham, Massachusetts, says, " What is
important to advisers is typically a reflection of what's important
to their plan sponsor clients. "
No doubt the 2021 Department of Labor (DOL) guidance on
cybersecurity has ignited interest in this topic, Rouse says. The
DOL's first cybersecurity guidance, issued last March, includes
best practices and tips for protecting retirement benefits.
All providers now offer some cybersecurity policies and
protections, but these vary, experts say.
Ray Conley, CEO of Benetic, in Franklin, Tennessee, says, in
working for a risk governance and compliance software company
that has recordkeeper clients, he sees a wide range of sophistication,
in terms of control and privacy protection, when it comes
PROVIDER INDUSTRY SNAPSHOT
Nearly all sponsors (97%) say
they are at least somewhat apt
to recommend their provider.
Likelihood of Recommending
Recordkeeper to a Friend or Colleague
Moderately
likely
20%
Extremely
likely
77%
Just a bit
likely
3%
Average Service Ratings
Recordkeeping Platform
Plan administration
Plan design flexibility
Systems integration
Participant Services
Online/Mobile retirement planning tools
Min Mean Max 1 = Poor; 10 = Excellent
8.65 9.14
9.57
7.82 8.99 9.44
8.04 8.68
9.18
7
8
9
10
8.41 8.96 9.46
Online/Mobile financial wellness offerings 8.32 8.84
In-person/Virtual participant support
Enrollment materials and support
Satisfaction with providers
is highest post-conversion
and at longest tenure.
Average Net Satisfaction, by Tenure
With DC Plan Recordkeeper
81%
75%
73%
74%
78%
Investments and Fees
Investment options
Fee value and transparency
8.55 9.04
8.30 8.88
9.43
9.21
7
8
9
10
Net Recommendation/Promoter Score represents the percentage of respondents " very likely
to recommend " the provider (i.e., giving it a score of 9 or 10 on a 10-point scale) minus the
percentage of scores of 6 or below (i.e., those " likely to recommend against " ).
22 PLANSPONSOR.COM December 2021 - January 2022
7.70 8.54
7.82
8.47
Print/Digital communications and education 8.19 8.71
Sponsor Services and Support
Sponsor website, reporting and tools
Account/Client service teams
9.25
9.05
8.97
9.21
7
8
9
10
8.13 8.82
8.60 9.23
9.41
9.71
7
8
9
10
<1 year
>3 years - 5 years
1 year - 3 years
>5 years - 7 years
>7 years
http://www.PLANSPONSOR.COM

PLANSPONSOR - December 2021 - January 2022

Table of Contents for the Digital Edition of PLANSPONSOR - December 2021 - January 2022

INSIGHTS
RULES & REGULATIONS
UPFRONT
ESG Interest Piqued
2021 Best in Class DC Providers
Ramping Up Offerings
Annuities Still Misunderstood
Student Loan Repayment
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - December 2021 - January 2022 - Cover1
PLANSPONSOR - December 2021 - January 2022 - Cover2
PLANSPONSOR - December 2021 - January 2022 - 1
PLANSPONSOR - December 2021 - January 2022 - 2
PLANSPONSOR - December 2021 - January 2022 - 3
PLANSPONSOR - December 2021 - January 2022 - INSIGHTS
PLANSPONSOR - December 2021 - January 2022 - 5
PLANSPONSOR - December 2021 - January 2022 - RULES & REGULATIONS
PLANSPONSOR - December 2021 - January 2022 - 7
PLANSPONSOR - December 2021 - January 2022 - 8
PLANSPONSOR - December 2021 - January 2022 - 9
PLANSPONSOR - December 2021 - January 2022 - UPFRONT
PLANSPONSOR - December 2021 - January 2022 - 11
PLANSPONSOR - December 2021 - January 2022 - 12
PLANSPONSOR - December 2021 - January 2022 - 13
PLANSPONSOR - December 2021 - January 2022 - 14
PLANSPONSOR - December 2021 - January 2022 - 15
PLANSPONSOR - December 2021 - January 2022 - ESG Interest Piqued
PLANSPONSOR - December 2021 - January 2022 - 17
PLANSPONSOR - December 2021 - January 2022 - 18
PLANSPONSOR - December 2021 - January 2022 - 19
PLANSPONSOR - December 2021 - January 2022 - 2021 Best in Class DC Providers
PLANSPONSOR - December 2021 - January 2022 - 21
PLANSPONSOR - December 2021 - January 2022 - 22
PLANSPONSOR - December 2021 - January 2022 - 23
PLANSPONSOR - December 2021 - January 2022 - 24
PLANSPONSOR - December 2021 - January 2022 - 25
PLANSPONSOR - December 2021 - January 2022 - 26
PLANSPONSOR - December 2021 - January 2022 - 27
PLANSPONSOR - December 2021 - January 2022 - 28
PLANSPONSOR - December 2021 - January 2022 - 29
PLANSPONSOR - December 2021 - January 2022 - Ramping Up Offerings
PLANSPONSOR - December 2021 - January 2022 - 31
PLANSPONSOR - December 2021 - January 2022 - 32
PLANSPONSOR - December 2021 - January 2022 - 33
PLANSPONSOR - December 2021 - January 2022 - Annuities Still Misunderstood
PLANSPONSOR - December 2021 - January 2022 - 35
PLANSPONSOR - December 2021 - January 2022 - Student Loan Repayment
PLANSPONSOR - December 2021 - January 2022 - 37
PLANSPONSOR - December 2021 - January 2022 - FIDUCIARY FORUM
PLANSPONSOR - December 2021 - January 2022 - INSIDE ANGLE
PLANSPONSOR - December 2021 - January 2022 - PLAN PROFILE
PLANSPONSOR - December 2021 - January 2022 - Cover3
PLANSPONSOR - December 2021 - January 2022 - Cover4
https://www.plansponsordigital.com/plansponsor/april_may_2022
https://www.plansponsordigital.com/plansponsor/february_march_2022
https://www.plansponsordigital.com/plansponsor/december_2021_january_2022
https://www.plansponsordigital.com/plansponsor/october_november_2021
https://www.plansponsordigital.com/plansponsor/august_september_2021
https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
https://www.plansponsordigital.com/plansponsor/december-january_2021
https://www.plansponsordigital.com/plansponsor/october-november_2020
https://www.plansponsordigital.com/plansponsor/august-september_2020
https://www.plansponsordigital.com/plansponsor/june-july_2020
https://www.plansponsordigital.com/plansponsor/april-may_2020
https://www.plansponsordigital.com/plansponsor/february-march_2020
https://www.plansponsordigital.com/plansponsor/december-january_2020
https://www.plansponsordigital.com/plansponsor/october-november_2019
https://www.plansponsordigital.com/plansponsor/august-september_2019
https://www.plansponsordigital.com/plansponsor/june-july_2019
https://www.plansponsordigital.com/plansponsor/april-may_2019
https://www.plansponsordigital.com/plansponsor/february-march_2019
https://www.plansponsordigital.com/plansponsor/december_2018-january_2019
https://www.plansponsordigital.com/plansponsor/october-november_2018
https://www.plansponsordigital.com/plansponsor/august-september_2018
https://www.plansponsordigital.com/plansponsor/june-july_2018
https://www.plansponsordigital.com/plansponsor/april-may_2018
https://www.plansponsordigital.com/plansponsor/february-march_2018
https://www.plansponsordigital.com/plansponsor/december_2017-january_2018
https://www.plansponsordigital.com/plansponsor/november_december_2017
https://www.plansponsordigital.com/plansponsor/october_2017
https://www.plansponsordigital.com/plansponsor/september_2017
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