2017
PLANADVISER Micro Plan Survey

The following tables summarize provider service ratings in the micro-plan market—i.e., plans with less than $5 million in defined contribution (DC) assets. Recordkeepers qualified for award consideration by receiving a minimum of 25 total client responses from sponsors of micro plans.

If a recordkeeper received at least that many responses but fewer than the minimum number of service ratings within a specific service category, it was ineligible for awards only in that service category. “Best in Class” awards are based on an aggregated net satisfaction score ­derived from ratings of 56 areas of service.

The three highest net satisfaction scores in each of 22 major service categories earned a Best in Class Award, as did those providers with a net satisfaction score above the asset group’s benchmark of 60%. A “Service Commendation” was given to recordkeepers that did not receive Best in Class honors but exhibited strong client satisfaction within a service attribute. Specifically, providers needed to have 90% of clients either “completely” or “mostly” satisfied with a particular service offering to receive a Service Commendation