The Standard offers companies annual Retirement Plan Reviews that reveal how their employees are engaging with their plan compared to industry benchmarks. These reviews can prove an invaluable analysis to employers who want to optimize participation and contribution rates.
The Standard plan reviews include overviews of plan asset flow and loan activity; average participant account balances vs. industry averages broken down by fund type and participant age; and average participation rates, including breakdowns by salary and age.
Plan reviews cover the following data:
- Automatic enrollment
- Profit sharing
- Fiduciary consideration
- Educational approaches