Plan Design Competitiveness
If one of your goals is to provide your participants with a competitive and valued plan, you should know how your plan design compares to that of other plans and how they have changed over time. Our analysis includes an assessment of your plan’s competitiveness to your peers and our universe and takes into consideration whether the plan is your employees’ primary benefit or whether it supplements a DB plan. Some of the plan features that we examine include:
Employee participation and contribution rates: Are your plan's participation and contribution rates increasing?
Company stock: Is your policy concerning investment in company stock in line with that of other plans?
Default investment option: What is your default investment option and how does it compare to other plans?
Customer service: Are your customer service, communication and education efforts in line with those of other plans?
Employer contribution and matching policies: Are your policies competitive relative to other plans?