WASHINGTON - Less than half of 401(k) participants say they are "very satisfied" with the service providers that handle recordkeeping and investments, according to Warren Cormier, president of Boston Research Group of Hopkinton, Mass., and co-chair of the Spark Research Group of Simsbury, Conn.

Cormier, speaking at the Investment Company Institute's annual meeting here at a session entitled "Asset Retention and Increased Support to DC Sponsors and Investors," said that only 48% of participants were "very satisfied" with their plans in 2002, 5 percentage points lower than in 2000.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.