Next: Am I automatically enrolled in auto-enrollment? What does that mean?
Trust. Where does your plan provider rank?
How does my retirement plan provider rank on the trust scale? Being able to trust the company that is managing your plan is an integral part of saving.
Intuitively we know that Trust plays an important role in retirement savings. We now have data to measure and evaluate how well major service providers rate on this critically important issue.
In 2013, NARPP conducted a study with over 5,000 people saving for retirement to better understand the issue of trust. We asked people to rate their current plan provider on a variety of issues including trust.
The chart below shows the percentage of people who said they can trust their provider “Just About Always”.
About the study: The study was designed in collaboration with NARPP’s academic advisors and with Boston Research Technologies. The data were collected online, in a ten- minute survey. All profiled plan providers had a statistically valid sample. For those who did not, they were not included in the study. *