PLANSPONSOR - December 2022-February 2023 - 27

Best in Class Award
Service Commendation l Provider failed to meet the quota for rating in the designated service category
RECORDKEEPING
PLATFORM
PARTICIPANT SERVICES
SPONSOR SVCS
AND SUPPORT
INVESTMENTS
AND FEES
Plan Assets >$1b (Minimum of 10 responses; Best in Class benchmark of 70%)
Empower Retirement
Fidelity Investments
Schwab Rtrmt Plan Svcs
T. Rowe Price
Voya Retirement
*Net Promoter Score®
30
15
13
13
12
0%
8%
39%
8%
-55%
l
l
: positive % = more promoters than detractors; negative % = more detractors than promoters; 0% = equal promoters and detractors.
Methodology
The 2022 PLANSPONSOR Defined Contribution Survey was
conducted from August
through October 2022, using the
Qualtrics survey platform. Sponsors were asked to report specifics
about their DC plan/s. The data, from approximately 2,830 respondents,
represent 50 industries. Additionally, data was segmented
by respondent profile to further magnify differences in asset
range, industry and offerings across plan types and sizes.
Best in Class
Fifteen providers qualified for listing under at least one plan asset
range, and thereby to receive Best in Class recognition for service
to that plan group. Sponsors rated their provider in four areas
of service: 1) recordkeeping platform, 2) participant services, 3)
sponsor services and support, and 4) investments and fees. Best
in Class Awards are based on overall satisfaction ratings within
a service area.
After categorizing sponsor responses by plan assets, we
segmented providers to determine response rate and overall net
satisfaction rating greater than our 70% minimum. Ratings of 9
or 10, on a 10-point scale, were scored as " completely satisfied, "
while scores of 6 or less were considered " dissatisfied " with
service. Best in Class Awards were given in each service area-to
the three highest-scoring providers with plan assets of less than
$200 million and the two highest-scoring providers where assets
were more than $200 million. Service Commendations were
given to recordkeepers that had exceeded the overall net satisfaction
rating of 70%, though did not qualify for Best in Class.
Net Promoter Score†
PLANSPONSOR applied a modified scoring procedure of
Satmetrix Systems' Net Promoter SystemSM
to measure sponsor
satisfaction among participants. Our BIC NPS ratings were
calculated by subtracting the percentage of customers that
provided a score of 6 or less ( " detractors " ) from the percentage of
those that gave a score of 9 or 10 ( " promoters " ). Those that rated
between these scores-7's and 8's-were considered " passives "
and do not contribute to the overall final score. For additional
information, please visit netpromotersystem.com.
Survey findings will be further explored in the 2023 Plan
Benchmarking and Industry Reports. Contact surveys@issgovernance.com
with any questions regarding the data presented here.
†Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons
are registered trademarks of Bain & Company, Inc., Satmetrix
Systems, Inc., and Fred Reichheld. Net Promoter Score®
Promoter SystemSM are service marks of Bain & Company, Inc.,
Satmetrix Systems, Inc., and Fred Reichheld.
and Net
PLANSPONSOR.COM December 2022 - February 2023 27
l
# Responses
Overall Net Promoter Score®
Percentage
Plan administration
Plan design flexibility
Systems integration
Online/Mobile retirement
planning tools
Online/Mobile financial
wellness offerings
In-person/Virtual participant
support
Enrollment materials
and support
Print/Digital communications
and education
Website, reporting and tools
Account/Client service teams
Investment options
Fee value and transparency
*
http://www.netpromotersystem.com http://www.PLANSPONSOR.COM

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
https://www.plansponsordigital.com/plansponsor/december_2022_february_2023
https://www.plansponsordigital.com/plansponsor/october_november_2022
https://www.plansponsordigital.com/plansponsor/august_september_2022
https://www.plansponsordigital.com/plansponsor/june_july_2022
https://www.plansponsordigital.com/plansponsor/excellenceawards_2022
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
https://www.nxtbookmedia.com