Financial professionals want face time with clients and opportunities to demonstrate value. Clients want data to benchmark their retirement plans. The new Plan Sponsor Council of America 403(b) plan survey can help you do both.

This survey collects benchmarking data that is invaluable to 403(b) plan sponsors because it can help drive key plan changes with the intent of improving plan performance over the long term.

Each plan sponsor who completes the survey gets a free copy of the results, which is priced to others at $395, plus an invitation to a webcast with an in-depth discussion of the results from the PSCA (and yours truly). 

The valuable benchmarking data should be available in May and will cover:

  • Plan education
  • Investment options
  • Participation and contribution rates
  • Participant retirement readiness
  • Administration practices
  • Plan expenses   

This is the only survey that provides this kind of in-depth and essential information on how 403(b) sponsors are managing their retirement programs. The more sponsors who enter, the richer the data.
The short survey should take less than 15 minutes to complete and can be found at http://www.psca.org/403b_survey_2014. Sponsors have until March 28 to complete it.

You can add value just by letting your 403(b) clients know about this opportunity to receive free third-party research. When the results are available, you can meet with clients who completed the survey, attend the free webinar and help with benchmarking. This could be an opportunity to make recommendations and build relationships.  

Why would you not ask your clients to participate?

Friedman is the tax-exempt national practice leader with the Principal Financial Group, an investment management and retirement leader. A noted expert on 403(b) plan design, he has been consulting with tax-exempt organizations for over 20 years and has been in the retirement plan business since 1986. This blog originally ran on The Principal blog. Follow Aaron on Twitter @1AaronFriedman1

Insurance products and plan administrative services are provided by Principal Life Insurance Company. Securities are offered through Princor Financial Services Corporation, 1-800-547-7754, Member SIPC and/or independent broker dealers.  Securities sold by a Princor® Registered Representative are offered through Princor.  Princor and Principal Life are members of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.

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