BALTIMORE, Feb. 2, 2016 /PRNewswire/ -- T. Rowe Price has
officially launched a redesigned Workplace Retirement site for its
nearly 2 million plan participants, aimed at increasing retirement
readiness. The new digital experience was shaped by participant
feedback during robust testing, as well as the recognition that
online behavior has changed significantly over the years. The new
site is fully responsive, presenting the optimal browsing
experience for the user's device.
"In today's digital world, you only have a moment to catch a
user's attention, so designing a website that is intuitive and
enables users to complete their intended tasks with ease is a top
priority," explains Mary Ellen
Whiteman, head of Workplace Investors Experience at T. Rowe
Price. "For example, we know that the primary reason participants
log in to their account is to check their balance, so their account
balance is prominently displayed no matter what device they are
using, with quick and easy access to additional views."
The new design is already having a positive impact on
participant preparedness for retirement. Among other things, the
firm has seen:
- A 13% increase in enrollment completion rates over the past
year
- The creation of personalized Confidence Numbers by more than
50,000 participants (an indicator of how likely it is that a user
will meet his or her retirement savings goals on a scale from
0-100)
- Significantly greater mobile traffic to the new site, 57% more
mobile traffic versus the old site, indicating more investor
engagement with their accounts on their preferred device
"It's encouraging to see the impact a well-designed site can
have on participant engagement," says Whiteman. "This is an
ongoing process, and we are regularly monitoring user feedback and
satisfaction rates to ensure we are meeting their needs and to help
inform next steps and continued site enhancements as we go."
Other key features of the newly redesigned site include:
- An enhanced retirement income experience
- The ability for participants to create their own personalized
Confidence Numbers
- Full integration with the T. Rowe Price FuturePath® planning
tool
- The ability to aggregate and view balances, including outside
assets
- Streamlined navigation for ease of use
- Larger, more interactive charts
- A new account dashboard with the balance features used most by
participants
- New online Loan Center
- Tools, educational content, and videos to help participants
make more informed decisions when they are considering taking a
loan from their retirement plan
- The ability to initiate and complete a loan request entirely
online, on any device
- A Loan Status Tracker that shows where the loan is in the
process and when the participant can expect to receive the
funds
Plan participants can access the new site, as well as T. Rowe
Price's range of mobile apps at rps.troweprice.com.
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a
global investment management organization with $763.1 billion in assets under management as of
December 31, 2015. The organization
provides a broad array of mutual funds, subadvisory services, and
separate account management for individual and institutional
investors, retirement plans, and financial intermediaries. The
company also offers sophisticated investment planning and guidance
tools. T. Rowe Price's disciplined, risk-aware investment approach
focuses on diversification, style consistency, and fundamental
research. For more information, visit troweprice.com,
Twitter, YouTube, LinkedIn, or
Facebook.
IMPORTANT: The projections or other information generated
regarding the likelihood of various investment outcomes are
hypothetical in nature, do not reflect actual investment results,
and are not guarantees of future results. The simulations are based
on assumptions. There can be no assurance that the projected or
simulated results will be achieved or sustained. Actual results
will vary with each use and over time, and such results may be
better or worse than the simulated scenarios. Clients should be
aware that the potential for loss (or gain) may be greater than
demonstrated in the simulations.
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SOURCE T. Rowe Price Group, Inc.