STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

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The Progressives Progressives Are Tech Savvy More than half of progressive employers (54%) consider themselves at the forefront of technology or somewhat ahead of the market in adopting early technology. EMPLOYER PHILOSOPHY TOWARD BENEFITS TECHNOLOGY Progressives All Firms Point Difference At the forefront of benefits technology 29% 54% 13% +16 Keep pace with the market in adopting new technology 22% 30% +12 Somewhat ahead of the market in adopting new technology 25% 16% 72% +9 Tend to follow the market and only adopt proven technologies 20% 28% -8 Rely on legacy technologies 2% 14% -12 Online Services for Employees Are More Popular Among Progressive Firms Progressive firms make online tools available to increase enrollment, help employees manage transactions, provide guidance on financial and retirement planning, and ultimately, reduce costs. CURRENT AVAILABILITY OF WEB TECHNOLOGY FOR EMPLOYEES Progressives All Firms Point Difference Handle enrollment 61% 34% +27 Access PTO info 48% 22% +26 Access financial planning tools 76% 50% +26 Access retirement plan info 79% 54% +25 Obtain forms 83% 63% +20 Update personal info 62% 43% +19 Update beneficiary info 58% 41% +17 Submit claims 50% 35% +15 Manage retirement plan 81% 70% +11 Verify eligibility 49% 39% +10 Check claims status 57% 50% +7 32
Progressives Also Outpace Other Companies in Planned Future Use of Online Tools for Employees By 2010, benefit administrators at progressive firms will be more likely to use the web to process bills, check claim status, process 401(k) deferrals, obtain forms, and update eligibility processing. Employees at progressive firms will continue to use self-service tools that allow them to manage their 401(k), update information, enroll for coverage, and access educational information. EXPECTED AVAILABILITY OF WEB TECHNOLOGY FOR EMPLOYEES BY 2010 Progressives All Firms Point Difference Access PTO info 79% 52% +27 Update personal info 90% 64% +26 Handle enrollment 87% 62% +25 Access financial planning tools 89% 65% +24 Access retirement plan info 89% 66% +23 Update beneficiary info 87% 65% +22 Verify eligibility 81% 59% +22 Manage retirement plan 91% 70% +21 Obtain forms 86% 68% +18 Submit claims 74% 60% +14 Check claims status 76% 65% +11 33
Page 1 and 2: PRUDENTIAL’S GROUP INSURANCE STUD
Page 3 and 4: Welcome The cost of employee benefi
Page 5 and 6: Methodology This study surveyed a b
Page 7 and 8: Benefits Matter Eight in Ten Plan S
Page 9 and 10: Commitment to Benefits Spans Most C
Page 11 and 12: Benefits Decision Making Is Increas
Page 13 and 14: The Gap Among Top Financial Concern
Page 15 and 16: Voluntary Benefits on the Rise, But
Page 17 and 18: Most Plan Sponsors Do Not Require C
Page 19 and 20: Plan Sponsors and Participants Are
Page 21 and 22: Employee Concerns Extend Beyond Fin
Page 23 and 24: Interest in Lifestyle Benefits Vari
Page 25 and 26: Positive Online Outlook Online Tool
Page 27 and 28: Web Technology is Empowering Employ
Page 29 and 30: Plan Sponsors Want Enhanced Perform
Page 31 and 32: Criteria for Progressive Plan Spons
Page 33: Progressives Are More In Sync with
Page 37: Progressive Employers Value Persona
Page 40 and 41: Summary of Key Findings Theme One:
Page 42: About Prudential Financial Currentl

STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

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