Plan Participants Give OneAmerica® High Marks in J.D. Power Study
A relationship-oriented provider of impactful retirement plan solutions, OneAmerica® today acknowledged its third-place ranking in the J.D. Power 2020 U.S. Retirement Plan Participant Satisfaction Study, in the medium plan segment. The study, which was based on responses from over 10,000 retirement plan participants, was conducted in February and March of this year.
The U.S. Retirement Plan Participant Satisfaction Study, now in its third year, evaluates participant satisfaction with providers of group retirement plans, such as 401(k)s, based on six factors: interaction across live and digital channels; investment and service offerings; fees and expenses; plan features; information resources; and communications. Plan providers are ranked in three categories based on their mix of business in terms of average plan size.
"This ranking means so much to us because it demonstrates that we're supporting our participants in meaningful ways," said Sandy McCarthy, president of Retirement Services for OneAmerica. "Our relationship-focused philosophy ensures we listen to understand each individual participant's needs and can provide the education and solutions necessary to help put them on the path to success."
With an index score of 800 on a 1,000-point scale for overall satisfaction, OneAmerica registered the highest year-over-year improvement in points scored among all providers in the medium plan segment, scoring 94 points higher than last year's tally. Its third-place ranking was earned among 19 competitors in the medium plan segment of retirement plans, servicing between $5 million and $500 mllion in assets and between 100 to 1,999 employees.
"At OneAmerica, we understand that providing superior service means moving past the status quo to continuously improve and adapt," McCarthy added. "OneAmerica is committed to the retirement business and serving participants for the long term. We'll continue to grow and be there for our customers in new and relevant ways, as we continue to build on our strong relationships, market experience and long-standing financial strength."
OneAmerica, who ranked 30 points higher than the medium plan segment average, proudly services nearly 12,000 retirement plans and has over 1 million participants.
OneAmerica is the marketing name for the companies of OneAmerica.
Products issued and underwritten by American United Life Insurance Company® (AUL), a OneAmerica company. Administrative and recordkeeping services provided by McCready and Keene, Inc. or OneAmerica Retirement Services LLC, companies of OneAmerica which are not broker/dealers or investment advisors.
J.D. Power is not an affiliate of any of the companies of OneAmerica.
A national provider of insurance and financial services for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of its policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/about-us/companies-of-oneamerica.
About J.D. Power
The J.D. Power press release announcing rankings in retirement services can be viewed here.