New Retirement Account Research

Discussion Guide:

New Retirement Account Name Testing

Qualitative - EMPLOYERS

Draft 7/23/2013

Objectives

1. Determine the most appealing name and visual identifiers associated with the new retirement account for employer primary decision makers.

2. Obtain employer decision maker reactions to the concepts and obtain reactions that will help improve the campaign’s overarching messaging as materials are developed in the coming weeks.

   1. Will the name convey the appropriate message?

   2. Will employers remember the name?

   3. Will employers understand the messages about the new account?

   4. Are the messages appropriate and do they resonate with employers?

Method

• Two focus groups will be conducted with targeted small to medium-size companies (between 10 and 99 employees).

• Ten to twelve telephone/in-person one-on-one interviews (5-6 per market) will be conducted among representatives from larger companies (100 + employees)

Location - TBD Date - TBD	Location - TBD Date - TBD
Time - TBD	Time - TBD

Outline

1. Introduction and warm up

2. Retirement savings benefits offered and how decisions are made

3. Blind evaluation of name concepts

4. Description of new retirement account

5. Name evaluation with sponsor revealed

6. Evaluate logo designs

7. Message assessment

8. Talking points or call to action evaluation

9. Explore offering account to employees

1. Introduction - warm up respondents and set expectations 10 minutes; 10 total

Moderator introduction: THIS WILL BE MODIFIED FOR THE ONE-ONE-ONE INTERVIEWS TO INDICATE THAT THE INTERVIEW WILL LAST 30-45 MINUTES AND NO AUDIO/VIDEO TAPING.

• Welcome and thank you for attending

• Introduce moderator

• Purpose: to get your thoughts on saving for retirement

• Informal – no wrong answers

• 1 ½ to 2 hours

• Speak one at a time. Feel free to agree with each other or offer different opinions

• Confidentiality assured – no connection of what you say with you by name. First names only.

• Audio and videotaping and observers

Participant Self-introduction:

• First name

• Work synopsis, describe company, reporting structure (to President, VP, CFO, etc.)

2. Retirement Savings Benefits: Understand what the company offers and how decisions are made 15 minutes; 25 total

1. Focusing on financial benefits, how do you decide what benefits to offer to your employees?

2. Who makes the decision in your organization? What is your role?

3. Thinking specifically about financial benefits again, how important is it to your organization to offer your employees a way to save?

• Why is it important?

• What are the benefits to you as an employer?

• What are the benefits to your employees?

• How does this link, if at all, with your company’s vision, mission, brand, etc.?

4. What do you offer in the way of savings-related or retirement-related benefits to your employees? [FOR THOSE THAT OFFER SOME SAVINGS-RELATED ACCOUNTS, ASK THESE QUESTIONS, IF NOT ASK, Why don’t you?]

• What do you think of that benefit? How satisfied are you with it?

• How many employees take advantage of it?

• Why is there not 100% participation? What are the barriers?

• What do you hear from your employees about this benefit? What is most important to employees?

• What are the concerns employees have about saving for retirement? Are there aspects they dislike?

• Is this benefit something that you use to help recruit people to your company?

5. Is there anything about your company, or the type of employees that you have, that makes your situation unique?

3. Name concepts: Name evaluation - BLIND 15 minutes; 40 total

I would like you to evaluate several names for a new retirement savings account. We’ll talk more about the account later, but first I’d like you to evaluate some names that are being considered. (FIVE NAMES TO BE PRESENTED; ROTATE ORDER)

Names

• TBD

• TBD

• TBD

• TBD

• TBD

[PRESENT NAME 1] FOR EACH NAME COMPLETE THIS EXERCISE

1. Before we discuss your thoughts on each name, please fill out Exercise 1. [EXERCISES WILL CONTAIN QUESTIONS ON APPEAL, RELEVANCE, BELIEVABILITY, ETC.] I’d like you to complete this in silence so that you can think about each statement.

2. Now let’s discuss this.

   1. What are your top-of-mind reactions to this name?

   2. What does it make you think of?

   3. What is most appealing about this name to you? Why?

   4. What is unappealing? Why?

   5. What questions do you have?

   6. What do you think this retirement savings account would be like?

   7. Who do you think would offer it?

4. Description of New Retirement Account 10 minutes; 50 total

The U.S. Treasury is thinking about offering a new retirement savings account. Please read along with this description of the new account. [HAND OUT DESCRIPTION OF ACCOUNT]

PLACEHOLDER DESCRIPTION: This was used in the study conducted in 2011. We will use the new description that is being considered by the Treasury.

Treasury securities, such as U.S. Savings Bonds, have long been a trusted way to help Americans grow and protect their money. The U.S. Treasury is now considering a new way to offer a safe, affordable retirement savings account. This account will help more Americans realize the dream of a comfortable retirement—for as little as $25 to start.

It’s easy for employers to offer the U.S. Treasury Retirement Savings Account to employees through automated payroll services. The employee manages the account electronically, like an online bank account, and can contribute as little as $5 every payday. There are no account setup or maintenance fees. The account is also portable—if an employee leaves the organization, the account account stays with the employee.

The Treasury Retirement Savings Account offers the same rate of return offered to many employees of the federal government, and the account follows IRS guidelines for similar retirement accounts.

1. What are your reactions to this new account?

2. How well does this account fit with your perception of the Treasury?

5. Name concepts: Name evaluation - SPONSOR REVEALED 15 minutes; 65 total

Now, I would like you to evaluate the names for a new retirement savings account in light of what you now know about it including the description of the account and that it is offered by the U.S. Treasury. (PRESENT FIVE NAMES AGAIN IN SAME ORDER)

Names

• TBD

• TBD

• TBD

• TBD

• TBD

[PRESENT NAME 1] FOR EACH NAME COMPLETE THIS EXERCISE

1. Before we discuss your thoughts on each name, please fill out Exercise 2. I’d like you to complete this in silence so that you can think about each statement.

2. Now let’s discuss this.

   1. What are your reactions to this name now?

   2. What does it make you think of?

   3. What is most appealing about this name to you? Why?

   4. What is unappealing? Why?

   5. Is this name appropriate for a retirement savings account offered by the U.S. Treasury?

6. Logo concepts: Evaluate logos 15 minutes; 80 total

Now we’re going to shift our focus once again. I would like you to evaluate several logos for the new Retirement Savings Account from the U.S. Treasury (5? LOGO DESIGNS PRESENTED; ROTATE ORDER)

[PRESENT LOGO 1] FOR EACH LOGO COMPLETE THIS EXERCISE

[HAVE PARTICIPANTS CONSIDER ONLY THE LOGO THEY ARE VIEWING AT THAT TIME AND NOT COMPARE]

1. Before we discuss your thoughts on this logo, please fill out Exercise 3.

2. Now let’s discuss this. What are your reactions to this logo?

   1. What is most appealing to you about this logo? Why?

   2. What is unappealing about this logo? Why?

   3. What could be made more clear?

   4. What questions do you have?

PRESENT REMAINING LOGOS AND REPEAT EXERCISES

SHOW ALL LOGOS TOGETHER ON ONE SHEET OF PAPER

3. Now that we’ve looked at all of these logos:

   1. On your sheet, please circle the logos design concept you like best and write why. Cross off ones you do not like.

   2. Now let’s discuss. Which one of these logos designs is most appealing to you?

      1. Why? [BOARD RESPONSES –TALLY]

      2. Which is least appealing? [BOARD RESPONSES –TALLY AND DISCUSS]

7. Employer Message Assessment: Evaluate messaging 15 minutes; 95 total

Next, I’d like you to review some ways to describe the new retirement account and to express the benefits of saving. After each, I want to get your reactions to the ideas expressed. FOR EACH MESSAGE COMPLETE THE FOLLOWING EXERCISE: [HAND OUT MESSAGE – ROTATE ORDER]

Messages:

• TBD

• TBD

• TBD

• TBD

1. Before we discuss your thoughts on this message, please fill out Exercise 4 in your workbooks

2. Now let’s discuss this message.

   1. What is your overall reaction to this message?

   2. What does this idea say about saving for retirement? [What did you write down?]

   3. How does this idea make you feel? [What did you write down?]

      1. More specifically, tell me what you like most about this message. What do you like least?

      2. What, if anything, is confusing?

      3. What is most persuasive?

      4. Is there anything in this idea that conveys new information, feelings or outcomes that you don’t see elsewhere?

PRESENT REMAINING MESSAGES AND REPEAT EXERCISE.

3. Now that we’ve looked at all of these messages,

   1. Circle one or two of these that are most appealing to you? Why? [BOARD RESPONSES –TALLY]

   2. Which is least appealing? [BOARD RESPONSES –TALLY AND DISCUSS]

8. Employer Talking Points or Calls to Action: Evaluate strengths of messages

10 minutes; 105 total

THIS SECTION CAN BE USED TO EVALUATE TALKING POINTS, CALLS TO ACTION OR OTHER MESSAGING

Next, I’d like you to review some additional materials about the new retirement account and after each, I want to get your reactions to the ideas expressed. FOR EACH TALKING POINT OR CALL TO ACTION COMPLETE THE FOLLOWING EXERCISE: [HAND OUT TALKING POINT OR CALL TO ACTION 1]

Employer Talking Points or Calls to Action:

• TBD

• TBD

• TBD

• TBD

1. Before we discuss your thoughts on this message, please fill out Exercise 5 in your workbooks

2. Now let’s discuss this statement.

   1. What is your overall reaction to this statement?

   2. What does this idea say about saving for retirement? [What did you write down?]

   3. How does this idea make you feel? [What did you write down?]

      1. More specifically, tell me what you like most about this statement. What do you like least?

      2. What, if anything, is confusing?

      3. What is most persuasive?

      4. Is there anything in this idea that conveys new information, feelings or outcomes that you don’t see elsewhere?

PRESENT REMAINING TALKING POINTS OR CALLS TO ACTION AND REPEAT EXERCISE.

3. Now that we’ve looked at all of these statements,

   1. Circle one or two of these that are most appealing to you? Why? [BOARD RESPONSES –TALLY]

   2. Which is least appealing? [BOARD RESPONSES –TALLY AND DISCUSS]

9. Offering account to employees: Explore offering account 12 minutes; 117 total

Imagine that you’re reviewing retirement savings options for your employees and this Treasury Retirement Savings Account is available.

1. How is this different from retirement savings options that you are familiar with?

2. What are the advantages to you and your company? [CREATE LIST OF ADVANTAGEOUS FEATURES]

3. What other information would you want to know about this Treasury Retirement Savings Account?

4. What are the reasons you might not want to offer this program? [CREATE LIST]

• Which of these is the biggest barrier?

• Why is it a problem?

• What else causes you concern?

5. Who is this program designed for? Does it seem well designed for your organization?

• Would you view this as a replacement for something else or an additional offering?

• What kinds of questions might your employees have?

• How do you think they’d react to it?

6. Would you promote this retirement savings account to your employees? If so, how would you do it? COMPLETE EXERCISE 6 IN WORKBOOK [Exercise 6 will ask: decision makers, time of year, deadlines, how is information communicated, etc.]

7. What recommendations do you have for describing the new account?

8. Would having an account like this to offer to your employees be an asset in your minds for attracting employees or not particularly?

10. Wrap up 3 minutes; 120 total

We’ve been discussing a number of ideas related to a new retirement savings account. Based on everything you’ve seen tonight, what is your overall reaction to it?

1. Do you have any additional comments or suggestions?

2. Remember that you signed a confidentiality statement to participate in this group and that you cannot mention anything we discussed to anyone outside of the group.

Thank and Release

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