VALIC’s new plan sponsor site represents a significant step forward and it is now among the more modern sites within the Retirement Plan Monitor – Institutional coverage group.The new site, called SponsorFIT and part of VALIC.com, is designed for plan sponsors and closely resembles its participant site counterpart. “FIT” stands for “Futures. Individually Tailored.” and is built to fit plan sponsors’ needs and drive plan health by leveraging many of the same digital principles and best practices found in its FutureFIT participant site. Overall, VALIC’s new plan sponsor site effectively brings together the latest in digital trends and best practices while delivering an enhanced user experience that offers mobile accessibility and a more action-oriented, modernized user interface, edging the firm into the upper echelon of its peers with respect to the overall experience.
Meeting the demand for responsive, mobile-first design
Apps and responsively-designed sites have been slow to get off the ground in the plan sponsor space, but plan sponsors like VALIC recognized the demand to perform certain activities via mobile devices. The firm offers plan sponsors a new participant lookup tool that is universally accessible via the site’s header and that produces a participant data page. Participant lookup tools and easily accessible participant-level data are among the most sought-after sponsor site features according to plan sponsors we have interviewed. Plan sponsors also value the ability to access participant data on mobile devices. Incorporating responsive design into the participant search tool and the resulting participant data pages facilitates better and more efficient employee-sponsor interaction, which can ultimately lead to increased retirement plan engagement.
VALIC Sponsor Site Participant Search Tool – Desktop View
VALIC Sponsor Site Participant Search Tool Result – Desktop View
VALIC Sponsor Site Participant Search Tool and Result (Truncated) – Mobile View
Making plan administration easier
VALIC’s new SponsorFIT site makes it easy for plan sponsors to act on critical items by including new tools, such as a helpful notification feature that displays actionable items including participant transactions awaiting approval. The tool is especially useful for large and mega plan sponsors who, with hundreds or even thousands of participant accounts to maintain, can now see what needs to be completed without having to weed through excess accounts. Plan sponsors will be alerted to participant distribution requests via the new feature, and an alert badge will be viewable from every screen throughout the site. The alert remains in the notifications tab until action is taken, rather than disappearing upon viewing. This enhanced notification system can help ensure that a sponsor acts on all required action items, as alerts that disappear upon viewing can easily be forgotten.
VALIC Sponsor Site Plan Overview Screen (Truncated) with Notifications Drawer Expanded
Adding Sponsor Education
In addition to the new daily technical capabilities, SponsorFIT also features a new Insights to Outcomes section that provides content pertaining to trending industry topics. This section meets an important need that often goes overlooked, as it can drive site engagement with sponsors seeking to learn more about both their specific responsibilities and the industry as a whole.