Retiremap Plan Sponsor Report

8/8/2019 Retiremap Plan Sponsor Report

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Retirement Plan

Performance ReportPlan Sponsor: Company 1

Plan Advisor: Aaron Advisor, AIF

Reporting Period: April 1, 2010 September 30, 2010

This report documents changes in participants' savingbehavior, requests for information and review of key fiduciarydisclosures

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Table of Contents

Report Summary.......................................................Page 3Find out participants' Retiremap adoption levels, get a high

level view of their changes with regard to savings behaviorand see how they scored on retirement readiness

Changes in Participant Behavior.............................Page 5See specific changes for:

Monthly pay deferral rates

Requests for auto escalation

Requests for the advisor to contact them about plandetails or investment strategy

Participant Usage (anonymous).............................Page 6View anonymous data on participant use, including:

Levels of participation

Completion of the 404(c) disclosure module

Top 10 financial goals

Engagement Activity................................................Page 8See a list of past activities taken to engage participants andget them to go through Boulevard R's Retiremap software

How To Improve Outcomes.....................................Page 9See how you can further improve participant retirementreadiness and better fulfill your fiduciary duty.

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Report Summary

Here are the key usage metrics for the Retiremap platform:

Changes in Savings BehaviorAs a result of using the Retiremap software, the amount thatparticipant monthly savings rates increased by, as a result ofrequesting to change their pay period deferral amount (autodeferral), was:

70.4%

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Changes in Savings Rates

0

100

200

300

400

500

600

700

800

$439

$748

$635 Averagemonthly autodeferral sav-ings rate be-fore Re-tiremap

Averagemonthly autodeferral sav-

ings rateafter Re-tiremap

Averagemonthly plansponsor autodeferral sav-ings rateafter Re-tiremap

2.7%17.6%

5.7%

74.0%

Started onlinegoal settingprocess but didnot complete it

Completed on-line goal settingprocess and gota StarterRoadmap, butdid not review

404(c) disclos-ures

Completed on-line goal settingprocess, got aStarter Roadmapand reviewed404(c) disclos-ures

Have not s tartedthe online goalsetting process


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Retirement ReadinessRegarding overall retirement readiness, participants' resultslooked like this (100 = most prepared for a secure retirement;0 = least prepared for a secure retirement):

Here are the assumptions that are being used to calculateretirement readiness:

Inflation rate: 3%

Success rate of Monte Carlo simulations for non-retirement years, based on portfolio type: 85%

Replacement rate for income at retirement:First five years of retirement: 90%Early middle retirement: 75%Late middle retirement: 70%Last five years of retirement: 70%

Percentage of retirement assets that are tax deferred: 40%

Rate of return on investable assets in retirement(after tax): 5%

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Retirement Readiness Scores

0

10

20

30

40

50

60

70

80

29%

15%

14%

18%

23%

Scored 80-100

Scored 60-80

Scored 40-60

Scored 20-40

Scored 0-20


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Changes In ParticipantBehavior

Of the 68 participants who started the goal setting process,here are the results and changes in savings behavior

(orange), and requests for information or assistance (yellow):

Of the participants who received a Starter Roadmap:

62.7% increased their auto-deferral rate

54.2% requested information on auto-escalation

23.7% requested that the plan advisor contact them

32.2% reviewed the 404(c) disclosures

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Nu mb e r

o fPa rtic ip a nts

NumberofParticipants

Startedthe goalsettingprocess

Com-pleted thegoals set-ting pro-cess andreceiveda StarterRoadmap

Increasedtheirauto-de-ferral rate

Reques-ted in-formationon auto-escala-tion

Reques-ted thatthe planadvisorcontactthem

Reviewedthe404(c)disclos-ures

0

10

20

30

40

50

60

70

68

59

3732

1419


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Participant Usage(anonymous)

Here are the metrics on overall participant adoption, based onthe number of participants who have used the Retiremap

software and received a Starter Roadmap:

Review of 404(c) DisclosuresHere is a percentage of participants who have received aStarter Roadmap and also reviewed and acknowledged thatthey have understood the 404(c) disclosures, accessed fromthe online Dashboard:

32.3%

To improve this percentage, consider running an emailcampaign with a link directly to the 404(c) module and targetparticipants who have already received a Starter Roadmap,since they already have an account.

To request a list of participants who have reviewed the 404(c)disclosures, please contact your plan advisor.

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77%

23%Number ofparticipantsin the plan

Number ofparticipantswho haverecieved aStarterRoadmap


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Top Financial GoalsOf the short term financial goals that participants selected andplaced on the timeline, here are the top 10:

1. Invest better for retirement (24.7% of participantsselected this goal)

2. Max out retirement savings (21.1%)

3. Pay down credit card debt (18.3%)

4. Buy a home (18.0%)

5. Create an emergency fund (14.2%)

6. Save for college (13.9%)

7. Pay down credit card debt (10.2%)

8. Minimize tax liability (9.5%)

9. Reduce monthly spending (5.3%)10.Get long term care insurance (5.1%)

Consider creating educational workshops for the mostpopular goals.

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Engagement Activity

Here is a list of activities that have been take to engageparticipants and get them to go through the Retiremap

process:

Activity Date

Webinar for all plan participants Tuesday, April 27, 2010at 2:00pm EDT

Email Campaign #1: Sentintroductory email with activationlink

Tuesday, April 27, 2010at 2:00pm EDT

Email Campaign #1: Sent reminder

email #1 with activation link

Tuesday, May 4, 2010 at

2:30pm EDT

Email Campaign #1: Sent reminderemail #2 with activation link

Tuesday, May 11, 2010at 2:30pm EDT

Advisor presentation to planparticipants

Wednesday, September8, 2010 at 10:00am EDT

Email Campaign #2: Sentintroductory email with activationlink

Wednesday, September8, 2010 at 10:00am EDT

Email Campaign #2: Sent reminder

email #1 with activation link

Wednesday, September

15, 2010 at 2:30pm EDTEmail Campaign #2: Sent reminderemail #2 with activation link

Wednesday, September22, 2010 at 2:30pm EDT

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How to Improve Outcomes

There are a several things your can do to help improveparticipant outcomes and further reduce your fiduciary liability.

Here are some ideas:

Schedule a webinarSet a date with the plan advisor and the support teamfrom Boulevard R to run a 10 minute web-based demo(webinar) to plan participants where they'll see how thesoftware works and have a chance to ask questions.

During the demo, participants will be emailed a uniqueactivation link that will take them into the goal settingprocess. From there, they can reach the Dashboardand adjust their monthly pay period deferral amount(auto-deferral), request the advisor contacts them andreview the 404(c) disclosures

Run an email campaignFor those participants who have not yet started on theinteractive goal setting process, send them another setof three emails (a longer descriptive email and twoshorter reminder emails) invitation encouraging them totake action. Each email includes a unique activation

link.

Have your plan advisor give a presentationInvite your plan advisor to give a presentation toparticipants where they can demonstrate how theRetiremap software works. We can schedule an emailcampaign to coincide with the presentation.

Use the tablet appFeature in developmentBoulevard R is developing an application that can run ona tablet, such as an iPad, that will allow participants to

quickly find out if they are on track and get a StarterRoadmap. This app can be used in participant meetingsand even dropped off at participants' desks, bringingplan education directly to them.

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Retiremap Plan Sponsor Report

Documents

Transcript of Retiremap Plan Sponsor Report