A news release said that sections of the statement present data in a logical order from overall account summaries to specific details and include personalized account data and general market information. The statement also allows for customized messaging information to participants and suggestions for actions the participants should consider taking.
Dalbar, an independent firm that evaluates communications by comparing them to financial industry standards, said the statements strengths include:
- The statement displays prominently the most important information, such as the account balance, details of recent activity, the personal rate of return over different time periods, and fees and expenses associated with the account.
- It gives plan participants information on the performance of their portfolio.
- ICMA-RC uses plain English throughout the statement, allowing participants to grasp the status of their account(s).
- Graphics highlight important information. Design features provide easier legibility and reference through visual comparisons.
According to the release, to support the introduction of the statement and help participants become familiar with the new design, ICMA-RC has included an informative brochure with the quarterly statement mailing and posted on its Web site an interactive display that explains the statement’s features.
The ICMA-RA Web site is www.icmarc.org .