NAPA Net - Polling Places 041919

Are Your Plan Sponsor Clients Trained?

Many of us in the retirement plan space didn’t plan to be here – and that’s often the case for plan sponsors as well.

Sure, many studied to work in human resources, others in treasury/finance – but working with retirement plans?

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* 1. How were YOU trained to do your job?

Attended conferences/webinars.

Employer provided training.

On the job.

Pursued professional accreditation.

Something else?

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* 2. While it may be hard to generalize, for the MOST part, how well trained/informed are your plan sponsor clients to do their job?

They're in pretty good shape.

Not very.

I'm not really sure.

They're in good shape - mostly because I trained them.

They're figuring it out.

Not at all.

I'm not even sure they can spell fiduciary.

Any comments?

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* 3. If your plan sponsor clients are trained, how were they trained?

I/we trained them.

They picked it up from various conferences.

They pursued professional accreditation.

They worked as a provider/TPA before they were a plan sponsor, and learned there.

I've no earthly idea.

How so (or not)?

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* 4. In what area(s) do your plan sponsor clients most need training (check all that apply)?

Discrimination testing.

Fiduciary responsibility.

Plan design.

Plan administration.

Behavioral finance.

Investments.

Fee benchmarking.

Something else (please specify)

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* 5. Speaking of plan sponsor training, have you heard about the new Certified Plan Sponsor Professional credential?

Yes.

No.

Not sure.

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* 6. Any other comments about training, lack of training, the need for training, the quality of training, the lack of quality training, having training imposed on you, or life in general (trained or otherwise?)?

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* 7. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

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* 8. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

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* 9. Suggestions for future survey questions?

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* 10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...