T. Rowe Price Enhances Retirement Plan Participant Web Experience

T. Rowe Price has officially launched a redesigned Workplace Retirement site for its nearly 2 million plan participants, aimed at increasing retirement readiness.

The new site is fully responsive, presenting the optimal browsing experience for the user’s device. “In today’s digital world, you only have a moment to catch a user’s attention, so designing a website that is intuitive and enables users to complete their intended tasks with ease is a top priority,” says Mary Ellen Whiteman, head of workplace investors experience at T. Rowe Price. “For example, we know that the primary reason participants log in to their account is to check their balance, so their account balance is prominently displayed no matter what device they are using, with quick and easy access to additional views.”

Key features of the newly redesigned site include:

• An enhanced retirement income experience – the ability for participants to create their own personalized confidence numbers; full integration with the T. Rowe Price FuturePath planning tool; the ability to aggregate and view balances, including outside assets;
• Streamlined navigation for ease of use – larger, more interactive charts; a new account dashboard with the balance features used most by participants; and
• New online loan center – tools, educational content, and videos to help participants make more informed decisions when they are considering taking a loan from their retirement plan; the ability to initiate and complete a loan request entirely online, on any device; a loan status tracker that shows where the loan is in the process and when the participant can expect to receive the funds.

T. Rowe Price says the new design is already having a positive impact on participant preparedness for retirement. The firm has seen a 13% increase in enrollment completion rates over the past year; the creation of personalized confidence numbers by more than 50,000 participants (an indicator of how likely it is that a user will meet his or her retirement savings goals on a scale from 0 to 100); and significantly greater mobile traffic to the new site—57% more mobile traffic versus the old site, indicating more investor engagement with their accounts on their preferred device.

Plan participants can access the new site as well as T. Rowe Price’s range of mobile apps at rps.troweprice.com.