Can you provide data to Plan Sponsors that shows the level of benefits the plan is providing as well as their vendors success in improving those benefits over time?
Yes, our Sponsor Report rolls up the data we calculate for each participant each time reports are produced, and compares it to data from the first time our services were implemented. These are the plans statistics of success which includes the projected percentage of ending salary (replacement ratio) for each participant compared to the minimum funding goal and the required increases in rates of return and contributions for the two suggested guidance options. From these sponsors can identify the participants who are on track to a comfortable retirement, the overall effectiveness of the plans communication efforts and whether participants are utilizing our suggestions.
Related Questions
- Can you provide data to Plan Sponsors that shows the level of benefits the plan is providing as well as their vendors success in improving those benefits over time?
- Can you provide data to Plan Sponsors as to participants utilization of the optional web based service and their implementation of the advice provided?
- Does the MHP Act require plan sponsors to cover mental health or substance abuse benefits?
