Results of the survey show that:
- a striking 96% of plan sponsors offer their employees online access to account data, compared to 3% in 1998
- 93% offer participants online access to fund performance information, compared to 23% three years ago.
- almost 90% allow online transactions by participants
- a little over 80% post their benefit plan information on the Web
- 65% provide online retirement planning guides
- a little over half allow their participants to access their statements online
- 27% offer online investment advice
Respondents were also asked how the Internet or intranet had affected their plans:
- among sponsors of plans comprising over 10,000 eligible employees, almost half said it increased participation
- only 19% of smaller plans, those with less than 1,000 eligible employees, did so.
The greatest perceived impact on retirement plans was in asset diversification, where 62% of respondents felt it had had a positive effect, according to Mercer.
The sample comprised responses from 252 organizations. The assets of the surveyed plans totaled $125 billion, and the average number of eligible employees per plan surveyed was 8,100.
Read more about the survey here .