myRA Creative Testing

PREDECISIONAL

OMB NO. 1530-0023

Discussion Guide:

myRA EMPLOYER Creative Testing

Draft February 5, 2015

[INSTRUCTIONS FOR THE ONLINE BULLETIN BOARD ARE IN BRACKETS]

Before we begin I want to mention that we are in the early process of developing some materials, which we will be asking for you to assess. As such we would ask that you commit to not discussing or sharing anything we review in this discussion outside this group. [Please check yes if you agree to this or no if you do not agree. IF ‘NO’ IS SELECTED, TERMINATE PARTICIPATION]

[Day 1 – PART 1]

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

Moderator introduction:

• 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:

To get started, please tell me a bit about your position and title, describe your company and tell me about to whom you report. [BB: This will be visible to all those in the discussion group so we can all get to know who is participating.]

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

1. Which of the following savings-related or retirement-related benefits do you offer to employees? Please indicate the estimated percentage of employees that participate in each.

Type	Yes	No	Estimated Percentage of Employees that Participate
Pension
401(k)
403(b)
457
SIMPLE IRA
SEP
ESOP (Employee Stock Ownership Plan)
Profit Sharing Plan
Other describe____________

None - Do not offer

3. Why is there not 100% participation in your retirement savings plans? What are the barriers?

4. What do you hear from your employees about retirement savings benefits? What is most important to employees?

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

• Yes – please explain

• No

3. Awareness of myRA 10 minutes; 35 total

UNAIDED AWARENESS:

6. Have you heard of any new retirement options recently?

• Yes – What have you heard about it? Where did you hear about it?

• No

7. Have you heard about myRA?

• Yes - How did you hear about it? What are your initial thoughts about it? Please describe

• No

AIDED AWARENESS:

MODERATOR TO HAND OUT DESCRIPTION TO RESPONDENTS.

Let’s take a minute to read a description about this new offering. Keep in mind that this material is being developed and is not final.

The U.S. Department of the Treasury has developed myRA (my Retirement Account), a retirement savings account with a new type of Roth IRA investment that makes saving for retirement simple, safe, and affordable. Individuals can open a myRA account with no start-up cost and there are no fees for the maintenance of the account. myRA has no minimum contribution requirement, so savers can contribute the amount that best fits their budget. The investment in a myRA is backed by the United States Treasury and the account carries no risk of losing money.

8. (ASK IF ‘NO’ IN Q7) Before today have you heard of myRA?

• Yes

• No

9. What is your opinion of myRA now that you’ve read the description?

10. How interested would you be in this for your business?

1. Very interested

2. Somewhat

3. Neither

4. Not very interested

5. Not at all interested

Please explain in detail your rationale for this level of interest. I am interested in both positive and negative thoughts.

4. Evaluate creative materials 15 minutes; 50 total

11-15. Now we’re going to shift our focus and we would like to get your opinion on some materials. First, we would like you to evaluate some creative concepts for the myRA program.

PRESENT CONCEPT 1 - FOR EACH CONCEPT ASK:

• What are your reactions to this concept?

• What specifically is appealing?

• What is unappealing?

SHOW ALL CONCEPTS TOGETHER

Now that we’ve looked at all of these concepts:

16. Which concept do you like the best? Select one and explain why you selected that one.

Concept M

Concept Q

Concept T

Concept L

17. Which concept do you like the least? Select one and explain why you selected that one.

Concept M

Concept Q

Concept T

Concept L

[Day 1 – PART 2]

[We are approximately ½ way through our questions for today. At this point you may either log out and come back later today or continue through the end. If you decide to continue and finish at this point, we ask that you log in tomorrow to see if there are any follow up questions.

[Insert standard welcome back language]

5. Materials Assessment: Evaluate prospective materials 35 minutes; 85 total

Next, I’d like you to review some examples of materials and get your reactions to them. The first one is called the Employer XX. Please take a few minutes to read through this. You will notice we have used one of the concepts here as a placeholder – the final design for the concept is still being determined

SHOW EMPLOYER XX

1. What is your overall reaction to this document?

2. What do you like the most and what do you like the least?

3. What is the key or strongest message you take away from this?

4. Which of these ideas represents a stronger business case for your company? Select one and then explain why.

• You can help your employees save more

• You can strengthen your business’s benefits package

5. Did you notice that the “U.S. Treasury is mentioned in this document? Yes or No

6. What do you think of the link to the Treasury? Is it a positive or negative? How much should this be emphasized in the materials?

7. Based on what you’ve read do you have a good idea of how the myRA account works and is administered? Please explain.

8. What else would you need to know or want more clarification on?

9. What is your reaction to this statement myRA is ‘simple and free? ’Is it clear? Is it believable? Did you notice it?

10. Did you notice the language about the Roth IRA? Yes or No

Now I would like you to look at a mock up of the website. Please spend a few minutes reading this page as if you were looking at a website for more information.

SHOW EMPLOYER XXX

11. What is your overall reaction to the layout and the design?

12. Does this tell you enough about myRA? What is missing that you would like to see?

13. There are several resources on this page that you could click on to get more information. Which are most important to you?

14. What resources are not appealing to you, or items on this page that you would not be interested in clicking on?

15. Any other comments on this site?

Creative Executions: Assess creative executions

Next we would like you to review some items.

SHOW CREATIVE EXECUTION - EMPLOYER 1

16. What is your overall reaction to this?

17. Does this tell you enough about myRA? What is missing that you would like to see?

18. What was most important to you in the piece?

19. What was missing?

20. What could be improved? What would you change?

SHOW ADDITIONAL CREATIVE EXECUTIONS AND ASK FOLLOW UP QUESTIONS

6. Offering account to employees: Explore offering account 15 minutes; 100 total

If there is enough time after evaluating the materials, ask this section.

Thank you for the thoughtful feedback so far. My last set of questions requires imagining that you are reviewing retirement savings options for your employees and myRA is available as an option for your company.

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

22. What are the advantages to you and your company? What are the reasons you might not want to offer myRA?

23. Does it seem appropriate for your organization?

24. Would you view this as a replacement for other retirement savings or an additional offering?

25. What kinds of questions might your employees have? How do you think they’d react to it?

26. Would you promote myRA to your employees? Yes or No? If yes, how would you promote this?

27. Would having an account like myRA to offer to your employees be an asset in your mind for attracting employees or not particularly? Please explain.

• Yes, it would be an asset

• No, not an asset

7. Wrap up 5 minutes; 105 total

28. We’ve been discussing a number of ideas related to myRA. Based on everything you’ve seen so far what is your overall reaction to it?

29. Do you have any additional comments or suggestions?

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

Thank you so much for your time and thoughts. [Please log in for any follow up questions we may have. We will close the boards at the end of the day on X day.]