Insight
The data you need to optimize Their Plan
ProManage’s Insight provides plan sponsors with detailed information on the effectiveness of their benefits package in preparing their employees for retirement. Insight also gives your participants access to Retirement Readiness Statements, which can show them their progress toward retirement and offer simple steps to help them prepare.
What's in Insight?
It’s hard to know that you’re making progress if you’re not tracking it. That’s why Insight offers reporting and analytics for employers and their plan participants.
For Employers
Plan Health Report
Insight is a monitoring platform that provides nuanced analysis of your participants’ data. We can customize your Plan Health Reports to offer detailed answers to plan-specific questions like:
- Who is—and isn’t—making progress toward retirement goals?
- Is one pay band, job title, career level, etc. falling behind the others?
- What should we focus our communications on?
- Is our match formula working the way we expected?
- How can we adjust our plan to better prepare our employees?
For participants
Retirement Readiness Statements
Insight’s Retirement Readiness Statements help employees see where they are on the road to retirement—and where they could be if they made the suggested changes to their strategy. We work with employers to customize the statements and can even tailor them to specific groups of participants. Retirement Readiness Statements outline:
- their current account balance
- their savings rate
- estimated monthly income in retirement
- estimated account balance at retirement
Why choose Insight?
It’s not just the data that sets Insight apart, it’s our nuanced analysis and collaborative approach.
Informed analysis, greater understanding
The analysis provided through Insight often goes deeper than—and is independent from—what’s provided by the recordkeeper.
Uncover better benefits
The detail Insight provides can help you adjust your plan to make it even easier for employees to use their benefits well.
Get actionable advice
Retirement Readiness Statements outline participants’ current savings and investments, recommending adjustments that can get them on better footing for their future.
Find the answers you need
We work closely with employers to find the information to answer their specific questions—then we use those answers to help them make decisions.
More Solutions
Round out your benefits package
When it comes to benefit plan design, you have the chance to give your employees tools they’ll use for a lifetime. Our solutions can help them practice good habits while preparing for their future.
What Drives Us
“We’ve always believed that to reach big goals, you need to see progress. It’s important to us to show participants just how far they’ve come.”
Why ProManage
Ask us
Have questions? We have answers.
What information can participants see on the Retirement Readiness Statements?
They’re customizable. The general approach is to show them their Retirement Readiness based on their current savings and investment elections, and where they could be based on our suggested savings and investment strategy.
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How often can we receive a Plan Health Report?
Typically, our clients request to receive Plan Health Reports on an annual basis. But, if you’re interested in changing that cadence, feel free to reach out.
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Is Insight still helpful if I don’t have specific questions about my plan?
Many organizations find Insight’s data to be helpful. You can learn more about it by requesting a plan health check. If you add Insight to your employees’ benefits package, we’ll work with you to identify unique challenges and opportunities—and the design changes you can consider to improve your plan.
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Interested in learning more?
We think our solutions can make a difference in the lives of real people, and we’d love to help you make that happen for your employees. Reach out; we’re always up for a good conversation.
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