Retirement Plan Scorecard
IFA's Retirement Plan Scorecard is a robust tool built specifically for retirement plan participants and administrators looking for a quick, yet comprehensive analysis of their current plan. After completing the survey, you will receive an in-depth report showing scores, strengths and weaknesses of the plan.
1. Do you find it easy to build a portfolio among investment options in the plan?
2. How many different investment options does your plan offer?
3. What percentage of the investment options have expense ratios below 0.50 percent?
4. How often are investments added or removed from your lineup?
5. What is the approximate total of assets in your plan?$
6. What type of investment options would you like in your ideal plan? Check all that apply.
1. Approximately, how many employees are there in your company?
2. How often does your plan advisor meet with participants?
3. Do you think participants receive enough education to make quality decisions about their retirement savings?
4. Do you feel that your investment advisor provides enough individual advice?
5. Do participants know if they are on track to receive their desired retirement income?
6. Which of the following advice services would your ideal plan offer? Check all that apply.
1. Are you comfortable that Fiduciary responsibilities are being fulfilled sufficiently?
2. Does your investment advisor accept responsibility and liability for investment selection and monitoring?
3. How confident are you that the fees you are paying are reasonable for the services you are receiving?
4. Does your plan have an Investment Policy Statement that describes how funds are selected and monitored?
5. If you oversee the plan, which of the following ERISA fiduciary responsibilities would you like more help with? Check all that apply.
1. What is your estimate of the percentage of eligible employees that participate in the plan?
2. Has your plan failed a compliance test and been required to return money in recent years?
3. Do you find your year-end compliance duties to be simple and "headache" free?
4. How confident are you and your participants when using your online system (i.e., processing loans, requesting distributions, changing salary deferrals, changing investment elections, running reports, etc.)?
5. How does your company administer payroll?
6. Rank the following statements in order of priority (1 = top priority, 4 = lowest priority)