The level of trust that consumers have in the financial industry has fallen substantially just since last year, but new indices offer a way to gauge their trust in retirement plan providers and how well they engage with those providers.
In the 2016 Participant Trust and Engagement Study, designed to measure the level of trust that consumers have in financial institutions in general and in their respective retirement plan provider, the National Association of Retirement Plan Participants (NARPP) created three additional indices: the Recordkeeper Engagement Rating, the Recordkeeper Performance Rating, and Participant Financial Courage (the latter measures participants' financial state of mind, including how confident they are in their ability to make financial decisions).
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