The scorecard includes information on:
- Service Experience – measures service levels in areas such as contributions, distribution and loan processing, web and voice response systems, as well as participant survey results on education meetings and call center experience
- Service Score – displays agreed-upon goals that function as benchmarks to track service quality
- Service Feature Utilization – tracks the plan’s utilization of available retirement plan features and enhancements
- Plan Information – provides statistics including participation rates, deferral rates and IRA rollover details
The scorecard verifies service quality by measuring how well it delivers on specific service criteria and reports this information, according to a news release. Plan sponsors can access their plan’s scorecard anytime through www.schwabplan.com .