NAPA Net - Polling Places 070615

How Many Are on the Installment Plan?

There is a growing interest in helping participants make better decisions about their retirement plan distributions, perhaps through the expansion of better retirement plan distribution options.

While the slow take up rate on annuity options by plan sponsors has been noted by a number of industry surveys, the data on installment options is less widely understood.

This week, we’d like to know about your experience working with plan sponsors on those options

Question Title

* 1. Among the plans you work with, how many have an option for installment payments?

Fewer than 10%

10% - 25%

25% - 50%

50% - 75%

More than 75%

Other (please specify)

Question Title

* 2. Among the plans you work with that have an option for installment payments, how widely used is that option by participants?

Less than 1%

Less than 5%

Less than 10%

Less than 25%

More than 25%

No idea

Other (please specify)

Question Title

* 3. Among the plans that don’t provide an installment payment option, why don’t they offer that option (check all that apply)?

Didn’t want the administrative hassles

Never really thought about it

Not included in their plan document

Participants haven’t asked for it

Participants don’t use it

I’ve no idea

Other (please specify)

Question Title

* 4. Among the plans that don’t provide an installment payment option, which is the most commonly cited reason?

Didn’t want the administrative hassles

Never really thought about it

Not included in their plan document

Participants haven’t asked for it

Participants don’t use it

I’ve no idea

Other (please specify)

Question Title

* 5. Other comments about distribution options, installment payments, or working with plan sponsor clients to help participants make better distribution decisions?

Question Title

* 1. Among the plans you work with, how many have an option for installment payments?

Question Title

* 2. Among the plans you work with that have an option for installment payments, how widely used is that option by participants?

Question Title

* 3. Among the plans that don’t provide an installment payment option, why don’t they offer that option (check all that apply)?

Question Title

* 4. Among the plans that don’t provide an installment payment option, which is the most commonly cited reason?

Question Title

* 5. Other comments about distribution options, installment payments, or working with plan sponsor clients to help participants make better distribution decisions?

Question Title

* 6. Suggestions for future survey questions?