Publish: May 22, 2018 | Press Release: May 24, 2018 | 2018 Sample Size: ≈11,000

The J.D. Power 2018 U.S. Group Retirement Satisfaction StudySM evaluates the needs and expectations of retirement account investors. This new study measures customer satisfaction with 401(k) providers’ services. The goals of this study are to provide a broad understanding of how 401(k) plan providers can improve investor satisfaction and enhance offerings in their plan sponsor conversations.

A study subscription will empower your firm to answer key business questions:

  • How is participant satisfaction impacted by newer plan features like autoenrollment and auto-escalation, among others?
  • How much of an impact does participant satisfaction have on rollover decisions, e.g., how likely are participants who leave their job to roll over their assets into an IRA with plan provider when they have had a positive experience?
  • How satisfied are participants with the tools and resources provided for helping them set retirement goals and make investment/asset allocation decisions?
  • Do participants have access to professional advice and guidance through their plan participation and do they use it? If so, how satisfied are they with it?
  • If 401(k) plan offers participants mobile access, what types of transactions are they allowed to complete? Which types of transactions do they want to conduct via mobile?
  • How satisfied are participants with the investment choices? Do they offer/ use target date funds (TDFs), ETFs, or mutual funds?
  • How well do participants understand the fees associated with investment options and how satisfied are they with the cost of the investment choices?
  • Do participants have specific goals in terms of retirement savings through their group plan? To what degree do they feel they are on track to meet their goals?
  • Have participants had problems with their account? If so, what kinds? Did they attempt to resolve the problems? If so, which channel(s) did they use and how effective/efficient was the resolution process?
  • How does the retirement savings experience differ based on a customer’s journey stage, e.g., onboarding/new, approaching retirement, or in-between?

Study deliverables include:

  • Customized executive presentation and in-person discussion that includes data-driven, actionable recommendations for achieving strategic goals
  • Performance scorecards benchmarking firm performance the industry in across key drivers of satisfaction, as well as loyalty and advocacy metrics
  • Analyst Briefing highlighting key trends and insights across the industry
  • Net Promoter Score®—This study includes Bain Certified NPS® by J.D. Power; several NPS questions will be added to the respondent files and available on VoX and via a word cloud and rank chart
  • Competitive survey data and industry reports including information on customer segments
  • Data and analytical tools for performance insights and competitive peer comparisons 
  • Access to VoX 3.0—This study is available on the interactive interface, VoX 3.0

Other 2018 Wealth and Lending Product Suite offerings* include:

  • New report on Self-Directed Investors “Seeking Guidance”: Among the fastest-growing segments of investors are those who are neither DIY nor working with a traditional dedicated financial advisor, but rather access advice and guidance from a combination of a call center based rep as well as self-service tools from their provider. J.D Power now has a study to identify key drivers of satisfaction for this segment and to benchmark leading providers.
  • NPS Analytics Package Add-On: J.D. Power’s NPS Analytics Package helps brands more fully understand the drivers of the Net Promoter Score and how those results fit within the framework of the overall customer experience.
  • Deep Dive: Partner with J.D. Power to capture additional sample enabling deeper analysis and segmentation around the client experience
  • Benchmarking and Certification Programs:
    • Contact Center
    • New: Mobile App

Net Promoter System,® Net Promoter Score,® NPS,® and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.
*These offerings require an additional subscription.