NAPA Net - Polling Places 050616

How WIll State-Run Retirement Programs Impact Plan Adoption?

The emerging plethora of state-run retirement plans is targeted at boosting retirement plan access among smaller employers, who have historically been less likely to offer access to workplace retirement programs.

While the solutions contained in these state-run initiatives vary, the feasibility study of at least one program – that in Connecticut state – suggests that half of the smaller employers impacted by the requirement to offer a retirement plan would choose one from the private sector marketplace, rather than opt for the state’s auto-IRA alternative.

This week, we’d like to hear what you think about these programs:

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* 1. What impact do you think state-run retirement plan mandates will have on small plan adoption?

No impact

Most employers without plans will simply do what the law requires

A large number, perhaps half, affected by the mandate, will look for private sector alternatives

Depends on the provisions of the mandate (employer size, etc.)

I've no idea

Other (please specify)

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* 2. Have you had any conversations with plan sponsors about these state-run retirement plans/mandates?

Yes

Yes, briefly

Other/Comments?

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* 3. If so, what has been the response of those plan sponsors?

They're unaware of the provisions

They're aware, but not concerned because implementation is so far in the future

They are aware and interested in private sector alternatives

They are aware, but not interested in private sector alternatives

I've not had any such conversation with a plan sponsor

Other thoughts?

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* 4. Do you think that sentiment will change as the implementation date nears?

Yes

Not sure

Other (please specify)

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* 5. Other thoughts about state-run retirement plans, retirement plan mandates, the retirement plan coverage gap, smaller employers, or life in general?

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

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

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* 7. 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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* 8. Suggestions for future survey questions?

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* 9. 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...