Retirement Survey Report
PEBA
November 1, 2001
The survey data was collected via the PEBA e-mail survey software in August 2001. The survey was sent to 324 member companies. 39 companies participated. An executive summary of the results can be found on the PEBA web site. The information below is a question by question analysis.
Demographics
Q 1. What is the nature of your company's business?
|
Responses |
Count |
Percent |
|
Chemical |
1 |
2.6% |
|
Consulting |
0 |
0.0% |
|
Computer/Data Services |
1 |
2.6% |
|
Education |
4 |
10.3% |
|
Financial Services |
3 |
7.7% |
|
Professional/Consultancy |
0 |
0.0% |
|
Healthcare |
8 |
20.5% |
|
Manufacturing |
6 |
15.4% |
|
Law |
3 |
7.7% |
|
Pharmaceutical |
0 |
0.0% |
|
Other |
13 |
33.3% |
Q 2. What is the size of your company?
|
Responses |
Count |
Percent |
|
Fewer than 100 |
0 |
0.0% |
|
100-499 |
15 |
36.6% |
|
500-999 |
8 |
19.5% |
|
1000-2499 |
5 |
12.2% |
|
250-4999 |
6 |
14.6% |
|
5000 or more |
7 |
17.1% |
Q 3. How many employees does your company have in Delaware Valley?
|
Responses |
Count |
Percent |
|
Fewer than 100 |
4 |
9.5% |
|
100-499 |
18 |
42.9% |
|
500-999 |
9 |
21.4% |
|
1000-2499 |
4 |
9.5% |
|
250-4999 |
4 |
9.5% |
|
5000 or more |
3 |
7.1% |
Q 4. What is the approximate make-up of the employee population for your entire company? (percentages)
|
Responses |
Mean |
|
Non-exempt hourly |
33.5 |
|
Exempt salary |
20.7 |
|
Salary supervisory / managerial |
9.6 |
|
Executives |
4.5 |
Q 5. How many retirement/pension plans does your company offer?
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.9 |
||
|
Responses |
Count |
Percent |
|
|
One |
16 |
38.1% |
|
|
Two |
18 |
42.9% |
|
|
Three |
4 |
9.5% |
|
|
More than three |
4 |
9.5% |
|
Q 6. What type of design?
|
Responses |
Count |
Percent |
|
Defined Benefit |
16 |
39.0% |
|
Profit Sharing |
11 |
26.8% |
|
Age Weighted Profit Sharing |
0 |
0.0% |
|
Money Purchase |
5 |
12.2% |
|
Cash Balance |
2 |
4.9% |
|
401(k) or 403(b) |
39 |
95.1% |
|
Other |
4 |
9.8% |
Q 7. Defined Benefit
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.2 |
||
|
Responses |
Count |
Percent |
|
|
P |
1 |
5.6% |
|
|
T |
17 |
94.4% |
|
Q 8. Cash Balance Plan
|
Mean: |
2.0 |
||
|
Standard Deviation: |
0.0 |
||
|
Responses |
Count |
Percent |
|
|
P |
0 |
0.0% |
|
|
T |
5 |
100.0% |
|
Q 9. Profit Sharing Plan
|
Mean: |
1.1 |
||
|
Standard Deviation: |
0.3 |
||
|
Responses |
Count |
Percent |
|
|
P |
10 |
90.9% |
|
|
T |
1 |
9.1% |
|
Q 10. Age Weighted PSP
|
Mean: |
NA |
||
|
Standard Deviation: |
NA |
||
|
Responses |
Count |
Percent |
|
|
P |
0 |
||
|
T |
0 |
||
Q 11. Money Purchase Profit Sharing
|
Mean: |
1.3 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
P |
5 |
71.4% |
|
|
T |
2 |
28.6% |
|
Q 12. 401(k) or 403(b)
|
Mean: |
1.1 |
||
|
Standard Deviation: |
0.2 |
||
|
Responses |
Count |
Percent |
|
|
P |
38 |
95.0% |
|
|
T |
2 |
5.0% |
|
Q 13. Other
|
Mean: |
2.0 |
||
|
Standard Deviation: |
|||
|
Responses |
Count |
Percent |
|
|
P |
0 |
0.0% |
|
|
T |
1 |
100.0% |
|
Q 14. If your company currently has a defined benefit plan(s), are you anticipating or considering a conversion to a cash balance plan?
|
Mean: |
2.2 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
0 |
0.0% |
|
|
No |
16 |
76.2% |
|
|
DB plan is already a cash balance plan |
5 |
23.8% |
|
Q 15. If yes to questions 14, please comment on brief features, i.e., grandfather clause, investment structure, education/communications, etc.
No answers provided.
Q 16. What is the overall level of participation (%) in your 401(k) or 403(b) plan?
|
Minimum |
Maximum |
Mean |
|
15.0 |
100.0 |
72.6 |
Q 17. What is the level of participation (%) in your 401(k) or 403(b) plan by employee type?
|
Responses |
Mean |
|
Exempt |
44.2 |
|
Non-Exempt |
63.5 |
Q 18. Do you have deferral restrictions on highly compensated (HCE) deferrals as a result of non-discrimination testing?
|
Mean: |
1.7 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
12 |
30.8% |
|
|
No |
27 |
69.2% |
|
Q 19. If yes, what is the amount or % of the annual allowable deferral?
|
Response |
# of Times Given |
|
2 % |
1 |
|
4% |
1 |
|
5% |
1 |
|
6% |
1 |
|
7% |
1 |
|
8% |
2 |
|
9% |
1 |
|
10% |
1 |
|
$ 9000 |
1 |
|
$ 10,500 |
2 |
Q 20. Do you return deferrals to HCE affected by a failed non-discrimination test?
|
Mean: |
1.2 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
21 |
80.8% |
|
|
No |
5 |
19.2% |
|
Q 21. Who performs your non-discrimination testing?
|
Responses |
Count |
Percent |
|
Recordkeeper |
26 |
68.4% |
|
Internal |
8 |
21.1% |
|
Other |
4 |
10.5% |
Other responses:
PWC
Q 22. How many non-discrimination tests do you perform annually?
|
Mean: |
1.4 |
||
|
Standard Deviation: |
0.7 |
||
|
Responses |
Count |
Percent |
|
|
One |
22 |
64.7% |
|
|
Two |
9 |
26.5% |
|
|
Three or more |
3 |
8.8% |
|
Q 23. If you have high levels of participation across certain populations in your company/firm, please list the top three reasons why you believe that the high level exists (i.e. good match, education program).
|
Response |
# of Times Given |
|
Education |
14 |
|
Match |
11 |
|
Tax benefits/advantage/ deferment |
6 |
|
Communication |
2 |
|
Good investment options |
2 |
|
Plan design |
2 |
|
Quality vendor |
2 |
|
Varied investment elections |
2 |
|
Employees are skeptical of the SS program |
1 |
|
Immediately eligible |
1 |
|
Many high paid employees (i.e. Lawyers) |
1 |
|
Good support from management and union |
1 |
|
High degree of participant flexibility in investment options |
1 |
|
Business of the company itself (mutual funds) |
1 |
|
Salaried participation is higher due to the level of financial sophistication in that group |
1 |
|
Well marketed |
1 |
|
Savvy employees |
1 |
|
Investment Committee |
1 |
|
Mandatory |
1 |
|
Planning for the future |
1 |
|
Supplemental retirement savings |
1 |
|
Employees are investors |
1 |
|
Non-contributory employer contribution |
1 |
Q24. Please list the asset size of your plan:
|
Response |
# of Times Given |
|
4 million |
1 |
|
5 million |
2 |
|
10 million |
1 |
|
15 million |
3 |
|
16 million |
17 million |
|
17 million |
1 |
|
20 million |
1 |
|
25 million |
2 |
|
26 million |
1 |
|
30 million |
1 |
|
35 million |
1 |
|
39 million |
1 |
|
50 million |
2 |
|
58 million |
1 |
|
65.7 million |
1 |
|
68 million |
1 |
|
84.5 million |
1 |
|
170 million |
250 million |
|
250 million |
1 |
|
267 million |
1 |
|
290 million |
1 |
|
600 million |
1 |
|
5 billion |
1 |
|
Individual annuity contracts |
1 |
|
Don’t know |
2 |
Q 25. Recordkeeping
|
Mean: |
1.8 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
I |
6 |
16.2% |
|
|
E |
31 |
83.8% |
|
Q 26. Fund tracking/performance
|
Mean: |
1.8 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
I |
6 |
15.4% |
|
|
E |
33 |
84.6% |
|
Q 27. Day to day administration
|
Mean: |
1.4 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
I |
23 |
59.0% |
|
|
E |
16 |
41.0% |
|
Q 28. Legal and regulatory
|
Mean: |
1.8 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
I |
9 |
24.3% |
|
|
E |
28 |
75.7% |
|
Q 29. Other
No answers provided.
Q 30. Do your participants have access to their accounts?
|
Responses |
Count |
Percent |
|
Via the Internet? |
36 |
87.8% |
|
Via the Intranet? |
7 |
17.1% |
|
Via voice response? |
35 |
85.4% |
|
Customer service? |
34 |
82.9% |
|
Employee KIOSK? |
1 |
2.4% |
Q 31. Recordkeeping
|
Responses |
Mean |
|
Employer |
39.9 |
|
Participant |
31.9 |
Q 32. Loans
|
Responses |
Mean |
|
Employer |
14.1 |
|
Participant |
72.6 |
Q 33. Loan Maintenance
|
Responses |
Mean |
|
Employer |
22.4 |
|
Participant |
66.7 |
Q34. Transaction or utilization fees
|
Responses |
Mean |
|
Employer |
40.2 |
|
Participant |
136.4 |
Q 35. Support (Internet, automated telephone service)
|
Responses |
Mean |
|
Employer |
48.7 |
|
Participant |
27.3 |
Q 36. Withdrawal fees
|
Responses |
Mean |
|
Employer |
25.2 |
|
Participant |
68.8 |
Q 37. Rollover fees
|
Responses |
Mean |
|
Employer |
30.8 |
|
Participant |
60.0 |
Q 38. Please check the minimum age a participant must be to participate in your 401(k) or 403(b).
|
Responses |
Count |
Percent |
|
no requirement |
16 |
41.0% |
|
18 |
4 |
10.3% |
|
19 |
0 |
0.0% |
|
20 |
0 |
0.0% |
|
21 or over |
18 |
46.2% |
Q 39. Please indicate the length of service an employee must have in order to participate in your 401(k) or 403(b).
|
Responses |
Count |
Percent |
|
Immediate |
20 |
51.3% |
|
Less than a year |
10 |
25.6% |
|
They become eligible on their 1 year anniversary |
7 |
17.9% |
|
Greater than a year |
3 |
7.7% |
Q 40. List any other requirements.
Q 41. Does your plan have Automatic Enrollment (also known as "Negative Election") for new hires?
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.3 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
4 |
10.5% |
|
|
No |
34 |
89.5% |
|
Q 42. If yes, what is the default deferral amount used? (%)
|
Minimum |
Maximum |
Mean |
|
2.0 |
5.0 |
2.4 |
Q 43. What is the amount of compensation allowable for deferral (1-15%)?
|
Responses |
Mean |
|
Minimum amount |
2.1 |
|
Maximum amount |
15.8 |
Q 44. Do you offer a post-tax feature as part of your 401(k) or 403(b) plan?
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
5 |
13.9% |
|
|
No |
31 |
86.1% |
|
Q 45. Does your plan offer a match?
|
Mean: |
1.3 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
28 |
73.7% |
|
|
No |
10 |
26.3% |
|
Q 46. If yes, what is the amount or percentage of the match?
|
Response |
# of Times Given |
|
1% |
2 |
|
1% up to 3%, ½ % up to 6% |
1 |
|
2% |
1 |
|
3% |
2 |
|
4% |
1 |
|
5% |
1 |
|
6% |
1 |
|
25% on first 6% |
2 |
|
50% |
3 |
|
50% up to 4% |
3 |
|
50% on first 5% |
1 |
|
50% on first 6% |
2 |
|
50% on first 7% |
1 |
|
50% up to 2000 |
1 |
|
60% on first 5% |
1 |
|
60% on first 6% |
1 |
|
75% on first 4% |
1 |
|
100% |
1 |
|
100% up to 5% |
1 |
Q 47. How many years are required for full vesting in employer match?
|
Mean: |
3.3 |
||
|
Standard Deviation: |
2.5 |
||
|
Responses |
Count |
Percent |
|
|
immediate |
14 |
43.8% |
|
|
1 year |
3 |
9.4% |
|
|
2 years |
1 |
3.1% |
|
|
3 years |
1 |
3.1% |
|
|
4 years |
2 |
6.3% |
|
|
5 years |
8 |
25.0% |
|
|
6 years |
2 |
6.3% |
|
|
7 years |
1 |
3.1% |
|
Q 48. Is there an employer discretionary profit sharing contribution feature?
|
Mean: |
1.6 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
13 |
37.1% |
|
|
No |
22 |
62.9% |
|
Q 49. Is the discretionary profit sharing contribution integrated with the social security wage base?
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
2 |
14.3% |
|
|
No |
12 |
85.7% |
|
Q 50. How many years are required for full vesting in employer discretionary profit sharing contribution?
|
Mean: |
5.4 |
||
|
Standard Deviation: |
2.2 |
||
|
Responses |
Count |
Percent |
|
|
immediate |
2 |
14.3% |
|
|
1 year |
0 |
0.0% |
|
|
2 years |
1 |
7.1% |
|
|
3 years |
0 |
0.0% |
|
|
4 years |
1 |
7.1% |
|
|
5 years |
5 |
35.7% |
|
|
6 years |
4 |
28.6% |
|
|
7 years |
1 |
7.1% |
|
Q 51. 2000
|
Minimum |
Maximum |
Mean |
|
0.0 |
6.0 |
2.1 |
Q 52. 1999
|
Minimum |
Maximum |
Mean |
|
0.0 |
6.0 |
2.2 |
Q 53. 1998
|
Minimum |
Maximum |
Mean |
|
0.0 |
6.0 |
2.1 |
Q 54. Is there a safe harbor contribution made to the plan regularly?
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.3 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
4 |
11.4% |
|
|
No |
31 |
88.6% |
|
Q 55. If yes, please list the percentage?
Q 56. Does your plan accept rollover contributions?
|
Mean: |
1.1 |
||
|
Standard Deviation: |
0.3 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
34 |
91.9% |
|
|
No |
3 |
8.1% |
|
Q 57. How many investment options are offered?
|
Mean: |
9.7 |
||
|
Standard Deviation: |
5.1 |
||
|
Responses |
Count |
Percent |
|
|
5 or less |
1 |
2.7% |
|
|
6 |
1 |
2.7% |
|
|
7 |
3 |
8.1% |
|
|
8 |
1 |
2.7% |
|
|
9 |
5 |
13.5% |
|
|
10 |
3 |
8.1% |
|
|
11 |
1 |
2.7% |
|
|
12 |
2 |
5.4% |
|
|
13 |
0 |
0.0% |
|
|
14 |
2 |
5.4% |
|
|
15 |
3 |
8.1% |
|
|
16 |
2 |
5.4% |
|
|
17 |
2 |
5.4% |
|
|
18 |
0 |
0.0% |
|
|
19 |
1 |
2.7% |
|
|
20+ |
10 |
27.0% |
|
Q 58. How many different fund families are offered?
|
Responses |
Count |
Percent |
|
Aetna |
0 |
0.0% |
|
AIM |
2 |
5.4% |
|
Alger |
1 |
2.7% |
|
Alliance |
1 |
2.7% |
|
American Century |
3 |
8.1% |
|
American Funds |
3 |
8.1% |
|
Berger |
0 |
0.0% |
|
Black Rock |
3 |
8.1% |
|
CIGNA |
2 |
5.4% |
|
Dreyfus |
1 |
2.7% |
|
Evergreen |
0 |
0.0% |
|
Fidelity |
17 |
45.9% |
|
Franklin Templeton |
1 |
2.7% |
|
Great West |
0 |
0.0% |
|
Invesco |
3 |
8.1% |
|
Janus |
7 |
18.9% |
|
Lincoln National |
2 |
5.4% |
|
Loomis Sayles |
1 |
2.7% |
|
Mass Mutual |
0 |
0.0% |
|
Merril Lynch |
1 |
2.7% |
|
MetLife |
1 |
2.7% |
|
MFS |
2 |
5.4% |
|
Morgan Stanley |
3 |
8.1% |
|
Neuberger Berman |
3 |
8.1% |
|
Oppenheimer |
0 |
0.0% |
|
PBHG |
3 |
8.1% |
|
PIMCO |
1 |
2.7% |
|
Principal |
0 |
0.0% |
|
Prudential |
3 |
8.1% |
|
Putnam |
2 |
5.4% |
|
Smith Barney |
0 |
0.0% |
|
State Street Bank |
1 |
2.7% |
|
State Street Global Advisor |
1 |
2.7% |
|
State Street Research Group |
1 |
2.7% |
|
Strong |
0 |
0.0% |
|
Transamerica |
0 |
0.0% |
|
T. Rowe Price |
1 |
2.7% |
|
TIAA-CREF |
8 |
21.6% |
|
VALIC |
1 |
2.7% |
|
Vanguard |
13 |
35.1% |
|
Warburg Pincus |
2 |
5.4% |
|
Other |
11 |
29.7% |
Q 59. Loans for any reason
|
Mean: |
1.3 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
25 |
71.4% |
|
|
No |
10 |
28.6% |
|
Q 60. Loans for hardship reasons only
|
Mean: |
1.7 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
9 |
29.0% |
|
|
No |
22 |
71.0% |
|
Q 61. Hardship withdrawals
|
Mean: |
1.1 |
||
|
Standard Deviation: |
0.3 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
32 |
88.9% |
|
|
No |
4 |
11.1% |
|
Q 62. In-service withdrawals at 59 ½
|
Mean: |
1.2 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
26 |
76.5% |
|
|
No |
8 |
23.5% |
|
Q 63. Self-directed brokerage accounts
|
Mean: |
1.8 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
7 |
21.2% |
|
|
No |
26 |
78.8% |
|
Q 64. Life-style funds (asset allocation funds)
|
Mean: |
1.4 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
19 |
57.6% |
|
|
No |
14 |
42.4% |
|
Q 65. Social/environmental funds
|
Mean: |
1.6 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
12 |
35.3% |
|
|
No |
22 |
64.7% |
|
Q 66. Company stock (publicly held company)
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
4 |
14.3% |
|
|
No |
24 |
85.7% |
|
Q 67. Company Stock (privately held/for profit company)
|
Mean: |
2.6 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
0 |
0.0% |
|
|
No |
11 |
35.5% |
|
|
Not applicable |
20 |
64.5% |
|
Q 68. Check the frequency of employee contribution changes:
|
Responses |
Count |
Percent |
|
Monthly |
5 |
14.3% |
|
Quarterly |
12 |
34.3% |
|
Annually |
0 |
0.0% |
|
Every pay period |
17 |
48.6% |
|
Other |
1 |
2.9% |
Other responses:
Q 69. Check the frequency of allocation changes (future and invested assets):
|
Responses |
Count |
Percent |
|
Daily |
26 |
76.5% |
|
Monthly |
6 |
17.6% |
|
Quarterly |
1 |
2.9% |
|
Other |
1 |
2.9% |
Other responses:
Q 70. Is the number of allocation changes capped?
|
Mean: |
1.9 |
||
|
Standard Deviation: |
0.3 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
4 |
11.8% |
|
|
No |
30 |
88.2% |
|
Q 71. If yes, please explain.
Q 72. Who writes and monitors the Investment Policy for the 401(k) or 403(b) plan?
|
Responses |
Count |
Percent |
|
Pension/Retirement Committee |
18 |
52.9% |
|
Trustees |
8 |
23.5% |
|
Fund Consultant (external) |
7 |
20.6% |
|
Fund Consultant (internal) |
1 |
2.9% |
|
Recordkeeper |
4 |
11.8% |
|
Fund Company |
5 |
14.7% |
|
Other |
3 |
8.8% |
Q 73. Who manages the fund performance and fiduciary responsibilities for the fund selection and the fund monitoring of the 401(k) or 403(b) plan?
|
Responses |
Count |
Percent |
|
Pension/Retirement Committee |
16 |
47.1% |
|
Trustees |
10 |
29.4% |
|
Fund Consultant (external) |
6 |
17.6% |
|
Fund Consultant (internal) |
0 |
0.0% |
|
Recordkeeper |
9 |
26.5% |
|
Fund Company |
6 |
17.6% |
|
Other |
2 |
5.9% |
Q 74. Do you provide employee investment education?
|
Mean: |
1.2 |
||
|
Standard Deviation: |
0.4 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
30 |
83.3% |
|
|
No |
6 |
16.7% |
|
Q 75. If you provide investment education, how often do you provide it?
|
Responses |
Count |
Percent |
|
Annually |
5 |
16.1% |
|
Bi-annually |
3 |
9.7% |
|
Quarterly |
8 |
25.8% |
|
Ongoing |
10 |
32.3% |
|
Other |
5 |
16.1% |
Other responses:
Q 76. What is the form of investment education?
|
Responses |
Count |
Percent |
|
Employee meetings |
25 |
78.1% |
|
Software |
8 |
25.0% |
|
Written materials |
25 |
78.1% |
|
One-on-one |
13 |
40.6% |
|
Videos |
14 |
43.8% |
Q 77. If you provide investment education in a group meeting or one-on-one, who provides or presents the information?
|
Responses |
Count |
Percent |
|
Outside consultant |
12 |
40.0% |
|
HR professional |
13 |
43.3% |
|
Recordkeeper |
7 |
23.3% |
|
Fund company |
11 |
36.7% |
|
Videos |
4 |
13.3% |
Q 78. Do you offer third-party investment advice to participants?
|
Mean: |
1.7 |
||
|
Standard Deviation: |
0.5 |
||
|
Responses |
Count |
Percent |
|
|
Yes |
9 |
27.3% |
|
|
No |
24 |
72.7% |
|
Q 79. If yes to Q. 78, what is the level of employee participation?
|
Mean: |
2.2 |
||
|
Standard Deviation: |
2.1 |
||
|
Responses |
Count |
Percent |
|
|
Less than 10% |
7 |
70.0% |
|
|
11-20% |
0 |
0.0% |
|
|
21-30% |
1 |
10.0% |
|
|
31-50% |
0 |
0.0% |
|
|
51-75% |
1 |
10.0% |
|
|
More than 75% |
0 |
0.0% |
|
|
No data available |
1 |
10.0% |
|
Q 80. If yes to Q. 78, it is through:
|
Responses |
Count |
Percent |
|
Software advisory module (i.e. financial engines) |
3 |
13.0% |
|
Financial consultant |
6 |
26.1% |
|
Group benefit |
4 |
17.4% |
|
One-on-one meetings |
4 |
17.4% |
Q 81. If you offer third-party investment advice to participants, who pays?
|
Responses |
Mean |
|
Employer |
14.0 |
|
Participant |
0.0 |