According to an article from Plansponsor, the recent survey “Plan Sponsor Trust and Confidence Study” from the National Association of Retirement Plan Participants found that the most important factor in the plan sponsor selecting a plan provider is the plan provider’s trustworthiness. However, the study finds that less than 70% of plan sponsors say they can “always trust their current plan provider to do the right thing for the plan sponsor and participants.” Other factors plan sponsors considered when selecting their plan provider:
- Customer Service
- Administrative Services
What factors did you consider when selecting you plan provider? How trustworthy do you consider your plan provider to be?