Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Benefits October 31, 2005
Offering Advice a High Priority for Plan Sponsors
October 31, 2005 (PLANSPONSOR.com) - An Invesmart
survey found that offering participant advice and telephone
access to a registered investment advisor was very important
to nearly 65% of the respondents, and topped the list of
service priorities.
Reported by Rebecca Moore
In its press release on the survey, Invesmart said providing a personalized retirement income gap analysis to participants ranked second, with 60% of respondents choosing that option. A close third, 59% chose providing recommended savings rates and automatic deferral increases. Lastly, 55% said delegating account management to an investment professional was very important.
In addition, the survey found that 44% of sponsors were interested in offering a Roth 401(k) plan next year, according to the release. Thirty-one percent were not interested in offering a Roth 401(k) plan, while the remaining 25% said they did not know enough about the Roth 401(k) to decide.
Invesmart’s 2005 Client Survey was conducted on-line in August and drew responses from 422 sponsors of 401(k) plans.