MADISON, Wis. — Two, independent research and information organizations have recognized CUNA Mutual Group's 401(k) plans as an industry leader in overall client satisfaction.
The 401k Exchange Provider Ratings Report said among more than 80 providers, CUNA Mutual was rated the number one plan administrator since 1999 in the less than $1 million plan assets category. CUNA Mutual also was the number two plan administrator in 2007 for plans in the $1 million to $10 million asset range. Since 1999, CUNA Mutual has ranked third as a fund manager for plans that are less than $1 million and sixth for plans between $1 million and $10 million.
Meanwhile, the Boston Research Group's 2007 Defined Contribution Plan Sponsor Satisfaction and Loyalty Study measured the ability of 25 401(k) service providers to satisfy the needs of sponsors with plans less than $5 million in assets. Highlights include CUNA Mutual's top rankings in the following categories: "understands your needs," "partners effectively," "easy to do business with," "minimizes administration burden," and "helps you meet fiduciary responsibilities." The research firm's study is based on interviews with nearly 3,000 plan sponsor contacts.
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