According to the J.D. Power 2020 U.S. Retirement Plan Participant Satisfaction Study, most plan providers aren\u2019t helping participants in the participants\u2019 eyes.<\/p>\n\n\n\n
Just 27% of retirement plan participants say they have accessed professional financial advice related to their plan, and 29% are either unaware of whether such advice is available or perceive that it is not available to them. 22% of retirement plan participants say they\u2019ve had no interaction with their provider during the past 12 months.<\/p>\n\n\n\n
Before plan providers get twisted in a knot, remember this is a survey of plan participants and their perception may not be fully grounded in reality. Communicating with participants effectively is always a challenge and it\u2019s one of the greatest challenges that a provider can go through.<\/p>\n
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