NAPA Net - Polling Places 100617

Do You Use Education Policy Statements?

Every plan doesn’t have an investment policy statement, though many do. A more recent development that builds on that concept is the education policy statement – a tool that can help plan sponsors define, document and benchmark their employee education initiatives.

While education policy statements are not exactly “new”, they have come into greater visibility (if not use) along with a growing emphasis on financial wellness and retirement outcomes, not to mention a more intense focus on fiduciary responsibility.

In this week’s NAPA-Net reader poll, we’d like to know what you are thinking – and doing – with education policy statements – and how, if at all, they are part of your practice.

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* 1. Do you use/encourage the use of education policy statements with your plan sponsor clients?

Sometimes

Yes

Something else (please specify)

Question Title

* 2. How long have you been using/encouraging the use of education policy statements with your plan sponsor clients?

More than 5 years.

Don't use them at present/very much

3-4 years

1-2 years

Longer than I can remember.

4-5 years

Only about a year

Something else (please specify)

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* 3. Do you feel that education policy statements are effective?

Yes!

It depends on the plan sponsor's commitment

No.

Not really.

Sometimes

Something else (please specify)

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* 4. How do most plan sponsors react to the concept?

Wildly enthusiastic

Reluctant

Skeptical

Hesitant

Very supportive

Agreeable

Something else (please specify)

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* 5. If they don't respond favorably, why not? What are their objections?

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* 6. Any other comments about education policy statements, offering education policy statements, integrating education policy statements into your practice, dealing with objections to education policy statements, or life in general?

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* 7. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

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* 8. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

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* 9. Suggestions for future survey questions?

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* 10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...