2020 Plan Sponsor Attitudes Survey

Supporting plan sponsors and participants has become more complex over the last decade. In its 11th year, this study reveals what is top of mind for plan sponsors, helping advisors better align their services and support models with the needs of their clients.

Highlight 5: Sponsors Seeking Advice on Smarter Total Benefits Spending

Health CareRetirementDentalVisionAdditional Benefits

Sponsors are increasingly offering benefits outside of retirement plans and health benefits, including health savings accounts, financial wellness programs, and student loan repayment programs.

Download the fifth installment in our 2020 Highlight Series to learn more about what benefits plan sponsors are focused on and how they're managing the costs.

Sign Up for Our 2020 Highlight Series

Position your practice to meet clients' needs. Receive our Plan Sponsor Attitudes Highlights Series for key insights.

  • Highlight 1: Uncovering Prospecting Opportunities
  • Highlight 2: The Value of the Plan Advisor
  • Highlight 3: Plan Design and Investment Menu Design May Help Close the Savings Gap
  • Highlight 4: Retirement Readiness Remains In Focus
  • Highlight 5: Sponsors Seeking Advice on Smarter Total Benefits Spending

Highlight 1: Uncovering Prospecting Opportunities

61% of sponsorsevaluate their plan advisorannually, and 25% do somore than once a year

While the percentage of plan sponsors looking to switch advisors continues to fall, opportunities for prospecting remain.

Download the first installment in our cto learn more about the factors plan sponsors consider when choosing an advisor.

Highlight 2: The Value of the Plan Advisor

AdvisedNon-AdvisedPlan goals for theparticipantmet:Plan goals for thecompanymet:56%50%67%66%

Sponsors working with advisors versus non-advisors are more satisfied that their plan is meeting their goals.

Download the second installment in our 2020 Highlight Series to learn more about how an advisor can add value in helping sponsors manage their plan.

Highlight 3: Plan Design and Investment Menu Design May Help Close the Savings Gap

41% of retirementplans do not have aretirement incomegoal for participants

Advisors can help sponsors establish a plan design with a retirement income goal to drive better outcomes for participants.

Download the third installment in our 2020 Highlight Series to learn more about plan design changes and investment menu changes that can help close the retirement savings gap.

Highlight 4: Retirement Readiness Remains in Focus

Sponsors report thatan estimated 34% of plan participantsretire early

Even though savings behaviors have improved over the past few years, the majority of participants are still not saving enough.

Download the fourth installment in our 2020 Highlight Series to learn more about trends with early retirement and what Fidelity estimates as a retirement income replacement rate.

About the Study

The 11th edition of our proprietary study uncovers opportunities with plan sponsors across the nation.

  • Based on the responses of 1,555 plan sponsors who use a wide variety of recordkeepers, not just Fidelity
  • Included plans with at least 25 participants and $3 million in assets, from start-ups to plans with more than $250 million in assets
  • Focused on plan sponsors using a financial advisor or plan consultant

Get Your Personalized Survey Review

Contact your Fidelity representative today to review the comprehensive insights from our latest Plan Sponsor Attitudes study and how they may apply to your business.

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