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Article: SATISFACTION LEVELS UP: Manager searches down for year; Plan sponsors have other things on their minds, but those that are unhappy with providers are even more likely to switch, survey says.(Brief Article)(Statistical Data Included)
- Article from:
- Pensions & Investments
- Article date:
- November 26, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WEST PALM BEACH, Fla. - Fewer defined contribution plan sponsors considered changing their service providers or began searches in 2001 than the year before, according to a survey by 401kExchange.
However, those plan sponsors that are dissatisfied are more likely to take action this year than last year, the survey revealed.
Some 11.7% of plan sponsors surveyed indicated they plan to change service providers this year, down from 13% in 2000, said Fred Barstein. Mr. Barstein is founder and chief executive officer of 401kExchange of West Palm Beach, a web-based exchange for 401(k) plan searches that also provides industry research and service provider ...