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Supporting plan sponsors and their participants has become more complex over the last decade. In its 10th year, this study reveals what is top of mind for plan sponsors, helping advisors better align their services and support models to the needs of their clients.
Advisors can add value by offering education to plan sponsors on other benefits beyond the retirement plan:
Download the fourth installment in our highlights series to learn more about increasing the value you provide to your clients.
Position your practice to meet clients' needs. Receive our Plan Sponsor Attitudes Highlights Series for key insights.
With sponsors increasingly relying on advisors, knowing their top concerns and goals can help you provide the services plan sponsors care about most.
Download the first installment in our Highlights Series for study results revealing plan sponsors' top concerns, their reasons for hiring an advisor, and more.
As an advisor, you want to offer plan sponsors the services that best meet their needs. With the majority of sponsors happy with their advisors, we've uncovered which factors contribute to advisors' success.
Download the second installment in our Highlights Series for study results, drivers of plan advisor success, and more.
It is estimated that 50% of retirement plan participants may be unable to cover their essential expenses in retirement.¹
Download the third installment in our Highlights Series to learn more about plan changes that sponsors are making to help close the retirement gap for participants.
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.
Survey summary: Harris Insights and Analytics, an independent market research company, conducted an online survey of 1,252 plan sponsors on behalf of Fidelity. Fidelity Investments was not identified as the survey sponsor. The survey was conducted during the month of February 2019. Respondents were identified as the primary person responsible for managing their organization's 401(k) plan. All plan sponsors confirmed their plans represented at least 25 participants and had 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.
1. Fidelity Investments Retirement Savings Assessment. Data collected through a national online survey of 3,182 working households earning at least $20,000 annually with respondents age 25 to 74, from September 14 through October 3, 2017. The survey assumes that 80% of estimated retirement expenses are essential. 2. The income replacement rate is the percentage of pre-retirement income that an individual should target replacing in retirement. The income replacement targets are based on Consumer Expenditure Survey 2011 (BLS), Statistics of Income 2011 Tax Stat, IRS 2014 tax brackets, and Social Security Benefit Calculators. The 45% income replacement target assumes no pension income and a retirement and Social Security claiming age of 67, which is the full Social Security benefit age for those born in 1960 or later. For an earlier retirement and claiming age, this target goes up due to lower Social Security retirement benefits. Similarly, the target goes down for a later retirement age. For a retirement age of 65, this target is defined as 50% of pre-retirement annual income and for a retirement age of 70, this target is defined as 40% of pre-retirement income.