Questionnaire. Who is the primary driver behind your organization s benefits decisions?

Transcription

1 STRATEGIC PLAN: Questionnaire Question 1 of 24 Who is the primary driver behind your organization s benefits decisions? Finance Representative Human Resources Cross-Functional Committee Parent Company Other Question 2 of 24 The level of your organization s involvement and oversight regarding benefits options should be: Employer driven with employees required to take minimal action in order to benefit from the program. Employee driven with the organization providing several options to employees. Question 3 of 24 Your organization s primary purpose of providing retirement benefits is: Serving as a recruiting tool to attract new employees. Rewarding employees to retain talent. Helping employees save for a financially secure retirement. Enabling employees to retire and manage their income in retirement. Question 4 of 24 When it comes to competitors, your organization s level of benefits should be: Not a concern Comparable Superior T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 1 OF 7

2 Question 5 of 24 Please select the option below that best describes your organization s ability to make benefits changes in the upcoming year: No significant business strategy changes are expected; business as usual. Organization has competing priorities that could affect ability to make changes. Question 6 of 24 Please rate the importance of the following components of retirement income: Defined contribution plan Other benefits available (e.g., defined benefit plans, stock purchase plans, insurance) Social Security Outside savings and investments T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 2 OF 7

3 Question 7 of 24 When considering the implementation of a new plan service, what are your key considerations related to value and cost? Value is most important. Value and cost are both important. Cost is most important. Question 8 of 24 The cost of providing a retirement program should be carried by: The organization. The employees receiving the benefits. Both the organization and the employees receiving the benefits. Question 9 of 24 Which of the following statements about retirement benefits apply to your organization? We should have uniform benefits across all employee segments and demographics. Our retirement program should allow flexibility to accommodate different employee segments and demographics. Question 10 of 24 How would you rate the level of knowledge among your organization s workforce about the value and features of your retirement benefits plan? Not at all knowledgeable. Somewhat knowledgeable. Very knowledgeable. T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 3 OF 7

4 Question 11 of 24 How would you rate the level of investment expertise among your organization s workforce? Not at all knowledgeable. Somewhat knowledgeable. Very knowledgeable. Question 12 of 24 As a plan sponsor, are you targeting a particular population for improvement? Yes, please identify below. No. Question 13 of 24 How does your defined contribution plan fit within the broader context of your retirement benefit program? DC plan serves as the primary vehicle for participant retirement savings. DC plan supplements a defined benefit plan. DC plan provides employees with an additional way to save for retirement. Question 14 of 24 How do you think contributions should be sourced? Contributions should be primarily sourced by the organization. Contributions should be primarily sourced by the employees. Contributions should be equally sourced by the organization and the employees. T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 4 OF 7

5 Question 15 of 24 Select the option below that best represents your organization s current position regarding employer retirement plan contributions. Organization would like to reduce the current employer contribution level. Organization would like to allow for flexibility in the annual employer contribution amount (e.g., based on profits, performance objectives). Organization would like to maintain or increase the current employer contribution level. Question 16 of 24 What approach would you like to take with employees having access to their retirement accounts through hardship withdrawals or loans? Participants should have minimal restrictions on access to money in their retirement accounts. Participants should have moderate restrictions on access to money in their retirement accounts. Participants should have strict limits on access to money in their retirement accounts. Question 17 of 24 Which of the following approaches for employee investment decisions do you prefer? A default investment should be offered to participants who do not make an active election. Participants should be encouraged to elect an investment allocation based on information provided to them. Advice and/or discretionary account management should be available to participants who need additional support. T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 5 OF 7

6 Question 18 of 24 Which of the following best characterizes your organization s philosophy regarding the investment option menu? Organization should offer a core lineup with a reasonable number of investment options. Organization should offer a flexible and broad range of investments. Question 19 of 24 When evaluating retirement plan investment options, what is your organization s primary focus related to risk management? Offsetting inflation and longevity risk. Offsetting market risk. Question 20 of 24 Is it important for your plan to offer solutions to retirees who wish to leave assets in the plan and create a retirement income stream? Yes. No. Question 21 of 24 What is your organization s optimal retirement plan participation rate? 50% 60% 70% 80% 90% 100% T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 6 OF 7

7 Question 22 of 24 How would you rate your employees level of engagement in making retirement plan decisions and taking steps to ensure a secure financial future? Not actively engaged. Somewhat engaged. Very engaged. Question 23 of 24 Which employee election process do you feel is most appropriate for your workers for each of the following plan aspects? Please select one option for each plan selection. Plan enrollment Opt In Opt Out Contribution rate Opt In Opt Out Investment choices Opt In Opt Out Question 24 of 24 Select one of the options available for the disposition of an employee s retirement plan assets when an employee terminates employment or retires. Assets remain in the plan. Assets distributed from the plan (e.g., roll over to an IRA or another plan). No preference; at employee s discretion. T. ROWE PRICE STRATEGIC PLAN: QUESTIONNAIRE PAGE 7 OF 7 C1IY4NB7G