Survey/Best in Class: Between late June and mid-September, approximately 40,000 survey questionnaires were sent to defined contribution (DC) plan sponsors listed in the PLANSPONSOR magazine database, as well as to client lists supplied by defined contribution providers; a total of 5,109 responses were received by the close of the survey, September 18. To qualify for ratings, a provider needed a minimum of 35 client responses; to be rated in a particular asset category, a provider had to meet specified minimum response levels. A total of 31 providers qualified for listing; additional details on these and other providers can be found in our 2015 Recordkeeping Survey.
Provider Listings: Providers were rated in 23 areas of participant/sponsor services covering: Technology, Education, Plan Administration, Fees and Investments, and Account/Client Service Teams. The percentage of “completely satisfied” ratings among all categories was calculated both overall and in each of six plan asset sizes; percentages were then ranked among all 31 qualifying providers: 18 <$5mm providers; 21 $5mm – $25mm providers; 11 >$25mm – $50mm providers; 12 >$50 mm – $200mm providers; nine >$200mm – $1b providers; and seven >$1b providers. The recommendation likelihood score is based on Satmetrix Systems’ Net Promoter ScoreSM.* For more information, contact Brian O’Keefe at email@example.com.
*Net Recommendation/Promoter Score represents the percentage of respondents “very likely to recommend” the provider (i.e., giving it a score of 9 or 10 on a 10-point scale) minus the percentage of scores of 6 or below (i.e., “neutrals” and those “likely to recommend against”).