Performance

Report
Prepared for
Plan Sponsor

Table of Contents
Employee Engagement
Details on how many employees were
engaged and their feedback on Retiremap.

Financial Wellness
Data on employees savings rates, financial
goals and debt issues.

Retirement Readiness
See how employee retirement readiness
compares across demographic groups.

Demographic Differences
Dive into the differences between
employees goals and investing approaches.

Next Steps
Review of what comes next and areas for
considering additional support.

Employee Engagement
Overview

42%
Interested
in meeting
an advisor

108
Employees
Engaged
(received a personalized Starter
Roadmap and custom online
Dashboard)

24%

97%
Completion
rate

How
employees
engaged

76%
iWorkshops (76%)
Online (24%)

Employee Engagement
Profile

58%
of engaged
employees are
married

23%
38%

Employees
engaged by
generation

39%
Baby Boomers (46-64): 23%
Gen X (65-76): 39%
Millennials (77-92): 38%

67 years old
is the average
anticipated
retirement age

54%
of engaged
employees own
a home

Employee Engagement

13%

Behavior Change

of employees are
interested in autoescalating their
paycheck
contribution

46%
of employees
decided to increase
their paycheck
deferral rate

5.7% of pay
was the average
deferral increase
request

I now feel more engaged with the 401(k) plan

90.2%

Employee Engagement

I now feel more prepared to work on my financial goals

88.6%

Workshop Feedback

I now have helpful tools to reduce stress related to my

personal finances
93.2%
I would recommend the workshop to a co-worker
96.8%
I plan to increase my savings rate through my
retirement plan
92.7%
I am more interested in meeting with an advisor from
Plan Advisor Firm
74.1%
I am more prepared to take the next step to improve
my financial wellness
96.2%
This new financial wellness program is an excellent
addition to the benefits package
97.6%
I consider financial education to be an important
employee benefit
100.00%

12%

Financial Wellness

10%

Overview

12%

Household
Savings
Rates

42%

24%

32%
of engaged
employees have
CREDIT CARD
debt

Saving 0-5% of household pay

Saving 6-10% of household pay
Saving 11-15% of household pay
Saving 16-20% of household pay
Saving more than 20% of household pay

28%

41%

of engaged
of engaged
employees have
employees have
CAR LOAN
STUDENT LOAN
debt
debt

Financial Wellness
Top 5 Financial Goals

Other Top Goals:

31% of employees

28% of employees
Save for Retirement

71% of employees

Eliminate Debt

43% of employees

Invest Better

41% of employees

Buy a Home

36% of employees

Emergency Fund

35% of employees

21% of employees

19% of employees

17% of employees

99

Retirement Readiness - February 2015

The following assumptions were

used to calculate retirement
readiness:

100%

75%

50%

25%

41%

19%
22%

47%

15%
25%

32%

29%

18%

Assumptions Used to
Calculate Employee
Retirement Readiness

42%

8%
27%

Inflation Rate: 3%
Success rate of Monte Carlo
simulations for non-retirement
years, based on portfolio type:
75%
Replacement rate for income at
retirement (only meets basic
needs, not retirement goals)

18%

0%

13%

All Employees Millenials

21%

23%

Gen X

Baby Boomers

Scored 75+ (Most Prepared for Retirement)

Scored 50 - 75
Scored 25 - 49
Scored Less Than 25 (Least Prepared for Retirement)

First five years of retirement:

65%
Early middle retirement: 55%
Late middle retirement: 45%
Last five years of retirement:
55%
Percentage of retirement assets
that are tax deferred: 50%
Rate of return on investable
assets in retirement (after tax):
5%

1010

Demographic Differences
Overview
23%
38%

Employees
engaged by
generation
39%

Baby Boomers (46-64): 23%

Gen X (65-76): 39%
Millennials (77-92): 38%

1111

33%

Demographic Differences
Millennials (77-92)
Top 5 Financial Goals

Save for Retirement

71% of employees

Buy a Home

51% of employees

Invest Better

42% of employees

Eliminate Debt

41% of employees

Emergency Fund

38% of employees

Own a
home

32

28%
Want to
save
more

years old
is the average
age.

11%
7%

How
39%
Millennials
21% are investing

23%

All cash
Mostly bonds and cash
Half stocks
Mostly stocks
All stocks

1212

61%

Demographic Differences
Gen X (65-76)
Top 5 Financial Goals

Save for Retirement

71% of employees

Eliminate Debt

45% of employees

Emergency Fund

40% of employees

Save for College

31% of employees

Buy a Home

31% of employees

Own a
home

45
years old
is the average
age.

33%

47%
Want to
save
more

10%

24%

How
Gen Xers
are investing 12%
21%
All cash
Mostly bonds and cash
Half stocks
Mostly stocks
All stocks

1313

77%

Demographic Differences
Baby Boomers (46-64)
Top 5 Financial Goals

Own a
home

56

Want to
save
more

years old
is the average
age.

9%

18%
Save for Retirement

82% of employees

Invest Better

64% of employees

Reduce Spending

34% of employees

Minimize Taxes

33% of employees

Long Term Care

28% of employees

48%

18%

How
Baby Boomers
are investing

23%
All cash
Mostly bonds and cash
Half stocks
Mostly stocks
All stocks

32%

1414

Next Steps

What comes next

and areas to
consider additional
support.

Step 1: Email campaigns

We will start with targeted emails to engaged employees

based on the financial goals selected and issues identified.

Step 2: Personal finance webinar

Based on the issue that the committee feels is most
pressing, a CFP with Retiremap will offer a live webinar.

Step 3: Evaluate addressing debt

Retiremap uncovered that 49% of employees had either
student loan or credit card debt, with 11% having both.