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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%
Page 4
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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