SEPTEMBER 17, 2020 – PlanFocus®, TIAA’s plan sponsor website, was recognized as a stand-alone in the "Excellent" category, which was the highest possible rating among the fifteen plan sponsor websites evaluated by Corporate Insight in the “Retirement Plan Monitor – Institutional Competitive Research Report.” PlanFocus® received the top rating for having the most complete selection of data and visualizations of any firm and employing design elements to maintain a clean layout.
Corporate Insight Retirement Plan Monitor – Institutional report key findings on PlanFocus®:
- Offers a robust homepage that sponsors can view for all plans or a combination of individual plans
- Provides an effective selection of data, visualizations, resources and quick links
- Incorporates organizational devices to avoid a cluttered, overwhelming display
“We’re committed to delivering rich insights and an intuitive experience for our plan sponsors (and consultants),” said Raja Doddala, Managing Director and Head of B2B Digital, Fintech Strategy & Development at TIAA. “By presenting useful metrics in a simple format, plan sponsors can identify specific areas for improvement.”
The report’s executive summary notes that the plan sponsor homepage is an important part of the digital experience as it serves as the gateway for sponsors to access key data, review plan summaries and navigate to other important site areas. The report states that “TIAA stands out for its wide selection of graphs and effective use of dropdown menus and carousel sections that allow sponsors to switch between various visualizations.”
The “Plan Review” tab, another key feature highlighted, provides aggregated participant retirement readiness metrics, including the average income replacement ratio for all participants along with a “generally accepted target” rate. A pie chart groups employees into three retirement readiness categories: needs action, in range and on track.
TIAA was also the winner of the goal medal in the 2019 Awards Report’s Homepage and Dashboards category.
Corporate Insight is an independent third-party research firm that examines the online experience that leading retirement plan providers offer to plan sponsors and advisors.
With an award-winning1 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1.1 trillion in assets under management (as of 6/30/20202) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.