Company ranks third in 2020 U.S. Retirement Plan Participant Satisfaction Study, medium plan segment
A relationship-oriented provider of impactful retirement plan solutions, OneAmerica acknowledged its third-place ranking in the J.D. Power 2020 U.S. Retirement Plan Participant Satisfaction Study, in the medium plan segment. The study, which was based on responses from over 10,000 retirement plan participants, was conducted in February and March of this year.
“OneAmerica is committed to the retirement business and serving participants for the long term. We’ll continue to grow and be there for our customers in new and relevant ways, as we continue to build on our strong relationships, market experience and long-standing financial strength.”
The U.S. Retirement Plan Participant Satisfaction Study, now in its third year, evaluates participant satisfaction with providers of group retirement plans, such as 401(k)s, based on six factors: interaction across live and digital channels; investment and service offerings; fees and expenses; plan features; information resources; and communications. Plan providers are ranked in three categories based on their mix of business in terms of average plan size.
“This ranking means so much to us because it demonstrates that we’re supporting our participants in meaningful ways,” said Sandy McCarthy, president of Retirement Services for OneAmerica. “Our relationship-focused philosophy ensures we listen to understand each individual participant’s needs and can provide the education and solutions necessary to help put them on the path to success.”
With an index score of 800 on a 1,000-point scale for overall satisfaction, OneAmerica registered the highest year-over-year improvement in points scored among all providers in the medium plan segment, scoring 94 points higher than last year’s tally. Its third-place ranking was earned among 19 competitors in the medium plan segment of retirement plans, servicing between $5 million and $500 million in assets and between 100 to 1,999 employees.
“At OneAmerica, we understand that providing superior service means moving past the status quo to continuously improve and adapt,” McCarthy added. “OneAmerica is committed to the retirement business and serving participants for the long term. We’ll continue to grow and be there for our customers in new and relevant ways, as we continue to build on our strong relationships, market experience and long-standing financial strength.”