NAPA Net - Polling Places 032516

What's Your Plan Services Evalation Process?

Every situation is unique, of course, but experience teaches us that there are certain patterns that make sense when it comes to evaluating plan designs and plan providers.

This week, we’d like to know about your experience with RFPs, RFIs, and benchmarking.

Question Title

1. How long have you been working with retirement plans?

less than 5 years

5-10 years

10-15 years

15-20 years

> 20 years

Other (please specify)

Question Title

2. About how often do you recommend that plan sponsors should conduct an RFP?

1-2 years

2-3 years

3-5 years

At least every 5 years

Other (please specify)

Question Title

3. What about RFIs? Do you recommend those?

Yes

It depends

Other/Comments?

Question Title

4. If yes, about how often do you (generally) recommend RFIs?

1-2 years

2-3 years

3-5 years

At least every 5 years

I don't generally recommend them.

Other

Comments?

Question Title

5. Do you ever do plan benchmarking

Yes

It depends

Other/Comments?

Question Title

6. For plan benchmarking, do you use (check all that apply):

Comparisons to other plans you work with?

Industry surveys

A formal benchmarking service

More than one of the above

Other (please specify)

Question Title

7. While every situation is different, what would you say is the most important question you ask on an RFP?

Question Title

8. What question on your RFP do you is most often “missed”, either in terms of the “right” answer, or a (fully) truthful one?

Question Title

9. In what way(s) has the RFP you work with changed most over the past 5 years, if any?

Question Title

10. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

Question Title

11. 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)

Question Title

12. Are you maxing out your current retirement savings contributions?

Yes – the full legal limit (including catch-up contributions, if applicable)

Yes – at least as much as the discrimination testing limits will allow

Not yet

Not sure

Other (please specify)

Question Title

13. Any other comments about RFPs. RFIs, benchmarking, the process(es) underlying them, the reactions to them (or the responses)?

Question Title

14. Suggestions for future survey questions?

Question Title

15. 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...

Question Title

* 1. How long have you been working with retirement plans?

Question Title

* 2. About how often do you recommend that plan sponsors should conduct an RFP?

Question Title

* 3. What about RFIs? Do you recommend those?

Question Title

* 4. If yes, about how often do you (generally) recommend RFIs?

Question Title

* 5. Do you ever do plan benchmarking

Question Title

* 6. For plan benchmarking, do you use (check all that apply):

Question Title

* 7. While every situation is different, what would you say is the most important question you ask on an RFP?

Question Title

* 8. What question on your RFP do you is most often “missed”, either in terms of the “right” answer, or a (fully) truthful one?

Question Title

* 9. In what way(s) has the RFP you work with changed most over the past 5 years, if any?

Question Title

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

Question Title

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

Question Title

* 12. Are you maxing out your current retirement savings contributions?

Question Title

* 13. Any other comments about RFPs. RFIs, benchmarking, the process(es) underlying them, the reactions to them (or the responses)?

Question Title

* 14. Suggestions for future survey questions?

Question Title

* 15. 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...

1. How long have you been working with retirement plans?

2. About how often do you recommend that plan sponsors should conduct an RFP?

3. What about RFIs? Do you recommend those?

4. If yes, about how often do you (generally) recommend RFIs?

5. Do you ever do plan benchmarking

6. For plan benchmarking, do you use (check all that apply):

7. While every situation is different, what would you say is the most important question you ask on an RFP?

8. What question on your RFP do you is most often “missed”, either in terms of the “right” answer, or a (fully) truthful one?

9. In what way(s) has the RFP you work with changed most over the past 5 years, if any?

10. What is your role working with retirement plans?

11. What size plans do you PRIMARILY work with?

12. Are you maxing out your current retirement savings contributions?

13. Any other comments about RFPs. RFIs, benchmarking, the process(es) underlying them, the reactions to them (or the responses)?

14. Suggestions for future survey questions?

15. 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...