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C15UM29ZA201806-524610
In 2016, nearly 170,000 participants in plans at T. Rowe Price contributed $50 or less.
The Silent 170k
WHO ARE THE SILENT 170K?
Demographicallydiverse
All age groupsrepresented
Half have less than$10,000 saved
Most contributed$50 or less½ 50$
$4 $0$5,366
Silent 170k Other participants
$246 $122
2015 2016 2017*
THEY’RE SAVING LESS THAN OTHER PARTICIPANTS
Their average annual contribution was extremely low When they save, they restart at a lower rate
*as of 7/31/2017
less likely to log in to their accounts online
less likely to open an email from T. Rowe Price
less likely to click on a link within an email
less likely to log in through a mobile device
less likely to call T. Rowe Price
THEY’RE LESS ENGAGED ACROSS THE BOARD
41% 50% 60% 49% 25%
We can help break down the walls.Contact your T. Rowe Price representative to learn more.
BREAKING DOWN BARRIERS BY CHANGING BEHAVIOR
Plan Design = Positive Outcomes
Auto-enroll88% participation rate compared with
46% without auto-enrollment
Auto-increase with opt out66% participant adoption compared
with 12% with voluntary opt in
Company matchStretching the match to incentivize saving
(e.g., changing match from 100% on first 3% to 50% on first 6%)
Financial Wellness Long-Term Saving
1 2Assess current financial health– Confidence Number® score
Set meaningful financial goals– Retire With Confidence®
– SmartDollar
Engagement Noise
SmartVideoYields nearly 18x higher click rates than traditional videos
Relevant messagingContent based on a participant’s age
and account balance
Targeted educationHelping participants know if they’re
heading in the right direction
T. Rowe Price Retirement Services, Inc.Source: T. Rowe Price 2016
SmartDollar and DoubleNet Pay are independent third party providers and are not affiliated with T. Rowe Price Retirement Plan Services, Inc. There is a fee for these services.