Survey/Best in Class
Between early July and mid-September, approximately 40,000 survey questionnaires were sent to defined contribution (DC) plan sponsors included in the PLANSPONSOR magazine database, as well as to client lists supplied by defined contribution recordkeepers; a total of 4,819 responses were received by the close of the survey, September 23. To qualify for ratings, a provider needed a minimum of 35 client responses; to be rated in a particular asset category, a provider had to meet specified minimum response levels. A total of 29 providers qualified for listing; additional details on these and other providers can be found in our 2016 Recordkeeping Survey.
Providers were rated in 56 areas of participant/sponsor services covering five broad categories: Technology, Education, Plan Administration, Fees and Investments, and Account/Client Service Teams. The percentage of “completely satisfied” ratings among all categories was calculated both overall and in each of six plan asset sizes; percentages were then ranked among qualifying providers and flagged (u) if the score was within the top quartile of all scores. The recommendation likelihood score is based on Satmetrix Systems’ Net Promoter ScoreSM.‡ For more information, contact Brian O’Keefe at brian.okeefe