2022 Plan Sponsor Attitudes Survey

Supporting plan sponsors and their employees has become more complex than ever before. In its 13th year, this survey reveals current trends to help advisors align their business approach to timely client needs.

Highlight 5: Sponsors Define Ideal Recordkeeping Relationship

48% of sponsors reported they are actively looking to change their recordkeeper.

Recordkeeper satisfaction continues to rise year-over-year, however the number of sponsors looking to change their recordkeeper also jumped in 2022 to its highest level in five years.

Learn more about what plan sponsors are looking for in their recordkeeper.

Highlight 4: Beyond the Retirement Plan

94% of sponsors reported making changes to their benefits lineups as a result of rising health care costs.

Plan sponsors are focusing on enhancing the total benefit package in order to better attract and retain talent.

To hear more on what plan sponsors are changing in their benefits plans to offset costs and help attract and retain talent, download our latest insights.

Highlight 3: Investment Menu Insights

93%of sponsors expectto make changes totheir investment lineups.

Investment menu changes are on the rise with the majority of sponsors reporting they plan to increase the number of investment options available in their plan lineup.

Learn more about Fidelity's 2022 PSA findings to help support your conversations with plan sponsors.

Highlight 2: Plan Design Changes Improving Retirement Readiness

Attracting and retaining employees was a top goal for sponsors in 2022. 27% in 2022 18% in 2021 vs.

Year over year, plan sponsors have remained focused on improving retirement readiness for their participants. In 2022, sponsors also reported an increased focus of attracting and retaining top employees with their retirement plans to remain competitive in the marketplace.

Learn more about plan design changes that sponsors are making to improve their plans.

Highlight 1: Increasing Expectations for Retirement Plan Advisors

47%of sponsors reportthat they are consideringa new advisor

The percentage of sponsors looking to switch advisors is at an all-time high.

To find out the top reasons that plan sponsors are looking for a new advisor, download the first of four highlights revealing actionable advisor insights to help support your client interactions.

Sign Up for Our 2022 Highlight Series

  • Highlight 1: Increasing Expectations for Retirement Plan Advisors
  • Highlight 2: Plan Design Changes Improving Retirement Readiness
  • Highlight 3: Investment Menu Insights
  • Highlight 4: Beyond the Retirement Plan
  • Highlight 5: Sponsors Define Ideal Recordkeeping Relationship

About the Study

The 13th edition of our proprietary study uncovers opportunities with plan sponsors across the nation.

  • Based on the responses of 1,285 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 Survey and how they may apply to your business.

2021 Plan Sponsor Attitudes Survey

To review last year's survey results, check out these highlights:

Related Commentary

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Survey summary: Harris Insights and Analytics, an independent market research company, conducted an online survey of 1,285 plan sponsors on behalf of Fidelity. Fidelity Investments was not identified as the survey sponsor. The survey was conducted during the month of March 2022. Respondents were identified as the primary person responsible for managing their organization's 401(k) plan. All plan sponsors confirmed their plans had at least 25 participants and at least $3 million in plan assets. Though the survey is broad in scope, the experiences of the plan sponsors participating in the survey may not be representative of all plan sponsors.

 
 

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