Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Data & Research April 17, 2025
Employers With PEPs Have Higher Adviser and Plan Satisfaction
The Standard study shows employers express a 40% increase in plan adviser satisfaction after joining a pooled employer plan.
Reported by James Van Bramer
Employers reportedly express higher satisfaction after joining a pooled employer plan, including improved satisfaction with the plan’s adviser.
According to a new study by The Standard, an insurance and finance company, 83% of employers expressed satisfaction with their PEP, while plan sponsor survey respondents reported a 40% increase in satisfaction with their adviser after joining.
The findings are based on an online survey of 300 employers at mid-sized U.S. companies, complied from January 3 through January 26.
The research also showed that employers reported a 26% increase in satisfaction with their retirement plan after joining a PEP, citing easier plan management and lower costs.
In addition, 80% of employers utilizing a PEP reported they looked at multiple alternative retirement plan providers before joining a PEP, according to the study.
After joining a PEP arrangement, 67% of employers said they saw a shift in topics they discussed with their providers, including spending less time discussing retirement plans.
The PEP market was created with the passage of the Setting Every Community Up for Retirement Enhancement Act of 2019, also known as the SECURE Act. As of December 2024, the PEP market has surpassed $10 billion in assets, according to Cerulli Associates.
However, the Georgetown Center for Retirement Plan Initiatives estimates PEP assets grew to more than $17 billion as of December 31, 2024.
The Standard reported having $2 billion in PEP assets under management as of March.