How Do You Measure Plan Success?

You hear a lot of talk these days about measuring plan health, retirement readiness, and plan outcomes.

This week I'd like to know how (or if) you - and your plan sponsor clients measure plan success.

1.While there might be a variety of methods employed, how do MOST of your plan sponsor clients measure plan success?

Participation rate

Deferral rate of various demographics (highly compensated versus non-highly compensated)

Participants saving to the level of the full match

Projected monthly retirement income

Projected retirement income replacement rate(s)

Number of participants with appropriate asset allocation

Increase in deferral rates

Employee satisfaction surveys

Plan design feature benchmarking

No particular measure of plan success

Other (please specify)

2.While you might recommend any of a variety of methods to measure plan success, which approach do you primarily advocate with your plan sponsor clients?

Participation rate

Deferral rate of various demographics (highly compensated versus non-highly compensated)

Participants saving to the level of the full match

Projected monthly retirement income

Projected retirement income replacement rate(s)

Number of participants with appropriate asset allocation

Increase in deferral rates

Employee satisfaction surveys

Plan design feature benchmarking

No specific measure of plan success

Other (please specify)

3.Has your recommended measure changed over the past five years?

Yes

Not really

4.In what way(s)/why?

5.Any additional comments on plan success measures?

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