PLANSPONSOR - December 2022-February 2023 - 12

UPFRONT
Words Worth 1,000 Pictures
game.' It makes a picture less meaningful
than you'd expect. "
Capital Group analyzed the language
used to communicate with investors saving
for retirement to see if it was excessive or
heavy with jargon and assessed the effectiveness
of images used. The research
proceeded in three phases: It audited a
library of hundreds of written messages
and images drawn from the current retirement
landscape; it recorded " gut reactions "
of respondents to both pre-chosen images
and written messages via a swiping exercise
on the person's mobile phone; and it
spoke with respondents, to delve deeper
into their feelings and reactions.
Retirement Language
Respondents were asked to rate the appeal
of various types of messages on a scale of
1 to 10, by swiping left or right on their
phone. Factual statements about retirement
such as " 10 things you must know
... " averaged the highest, at 7.8; productrelated
messages scored 6.9; and questions-e.g.,
" How much is enough? " -
scored 6.5.
Factual statements rated the highest,
too, across all demographics (34%), vs.
questions (30%) and product-related statements
(25%), the study found.
Respondents'
generation
made
COMMUNICATING concepts about
retirement to plan participants through
clear, simple language may be more effective
than using imagery, suggests new
research from Capital Group. Retirement
plan participants may respond in more
optimal ways and be prompted to act
through customized messages tailored to
their specific generation, the study shows.
The survey report, " The Art of
Retirement Communications: How well
do people today connect with the language
and images of retirement?, " suggests best
practices for sponsors, as well as imagery
and messages they might want to avoid.
" Interestingly, language was found to
resonate with people more than images, "
says Toni Brown, head of retirement
strategy at Capital Group.
are stronger. " However,
" That was
surprising, because we [usually] think
images
" Every
individual is unique, and there isn't a
picture that specifically says, 'retirement'
the way a picture says, 'This is a basketball
12 PLANSPONSOR.COM December 2022 - February 2023
Art by Irene Servillo
various differences in what they preferred.
Questions about planning appealed to
Millennials and Generation X but ranked
lower with Baby Boomers, who may think
they're beyond planning, Brown says.
" Smarter/better " resonated the most
with Gen X-wording such as " saving
smarter for retirement " and " achieve better
retirement outcomes. " Baby Boomers were
less enthused, though. " They might have
felt that a bit condescending, " Brown
observes. What they did like were " enjoyment "
and " transition " messages such as
'Today's dreams can be tomorrow's reality'
and 'Realize your vision for the next stage
of your life, " she says.
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PLANSPONSOR - December 2022-February 2023

Table of Contents for the Digital Edition of PLANSPONSOR - December 2022-February 2023

INSIGHTS
RULES & REGULATIONS
PARTICIPANT ANALYSIS
UPFRONT
Risk Protection
Benchmarking Beyond Fees
Exploring ESG Investing
In Case of Emergency
Employee-Owned
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - December 2022-February 2023 - Cover1
PLANSPONSOR - December 2022-February 2023 - Cover2
PLANSPONSOR - December 2022-February 2023 - 1
PLANSPONSOR - December 2022-February 2023 - INSIGHTS
PLANSPONSOR - December 2022-February 2023 - 3
PLANSPONSOR - December 2022-February 2023 - RULES & REGULATIONS
PLANSPONSOR - December 2022-February 2023 - 5
PLANSPONSOR - December 2022-February 2023 - 6
PLANSPONSOR - December 2022-February 2023 - PARTICIPANT ANALYSIS
PLANSPONSOR - December 2022-February 2023 - UPFRONT
PLANSPONSOR - December 2022-February 2023 - 9
PLANSPONSOR - December 2022-February 2023 - 10
PLANSPONSOR - December 2022-February 2023 - 11
PLANSPONSOR - December 2022-February 2023 - 12
PLANSPONSOR - December 2022-February 2023 - 13
PLANSPONSOR - December 2022-February 2023 - Risk Protection
PLANSPONSOR - December 2022-February 2023 - 15
PLANSPONSOR - December 2022-February 2023 - 16
PLANSPONSOR - December 2022-February 2023 - 17
PLANSPONSOR - December 2022-February 2023 - Benchmarking Beyond Fees
PLANSPONSOR - December 2022-February 2023 - 19
PLANSPONSOR - December 2022-February 2023 - 20
PLANSPONSOR - December 2022-February 2023 - 21
PLANSPONSOR - December 2022-February 2023 - 22
PLANSPONSOR - December 2022-February 2023 - 23
PLANSPONSOR - December 2022-February 2023 - 24
PLANSPONSOR - December 2022-February 2023 - 25
PLANSPONSOR - December 2022-February 2023 - 26
PLANSPONSOR - December 2022-February 2023 - 27
PLANSPONSOR - December 2022-February 2023 - Exploring ESG Investing
PLANSPONSOR - December 2022-February 2023 - 29
PLANSPONSOR - December 2022-February 2023 - 30
PLANSPONSOR - December 2022-February 2023 - 31
PLANSPONSOR - December 2022-February 2023 - 32
PLANSPONSOR - December 2022-February 2023 - 33
PLANSPONSOR - December 2022-February 2023 - In Case of Emergency
PLANSPONSOR - December 2022-February 2023 - 35
PLANSPONSOR - December 2022-February 2023 - Employee-Owned
PLANSPONSOR - December 2022-February 2023 - 37
PLANSPONSOR - December 2022-February 2023 - FIDUCIARY FORUM
PLANSPONSOR - December 2022-February 2023 - INSIDE ANGLE
PLANSPONSOR - December 2022-February 2023 - PLAN PROFILE
PLANSPONSOR - December 2022-February 2023 - Cover3
PLANSPONSOR - December 2022-February 2023 - Cover4
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