A Simple Questionnaire for Employers
The goal of the questionnaire is for employers to get a sense of whether their plan is in good shape without doing a lot of research. If the employer does not know the answer or if the answer is not readily available to the employer, then a “don’t know,” response is just as concerning as a “no,” response on the questionnaire. Often, we discover that an employer has adopted a plan that best meets its vendor’s needs instead of the employer’s needs regarding:
- Plan investment selection
- Plan fees/expenses and those charged to participants
- Plan design
- Plan education
Scoring the Questionnaire
Place a score of “5” in the final column if the response to the question is “Yes.” For all other responses, place a score of “0” in the final column. Then add up all your points in the final column to receive your total questionnaire score. If you want to discuss your questionnaire responses with a Midland Wealth Advisor, please call Midland at 815-231-2710 or contact us today.
