This week, PLANSPONSOR Magazine is revealing winners of the 2020 Plan Sponsor of the Year awards.
The annual awards program recognizes retirement plan sponsors that show a commitment to their participants’ financial health and retirement success. The award is given in many categories to recognize all plan types, so any plan sponsor can be eligible.
Nominations are made in the fall, finalists are announced in February, and winners are announced in September. To be considered, a sponsor must first be recommended for the award. Nominations are accepted from across the industry—including those from providers, advisers, consultants, actuaries, attorneys, third-party administrators (TPAs), employees and colleagues. All nominees are then asked to complete an online form, supplying details about the plan’s administration, participant statistics and data.
The 2020 awards have 10 categories in order to allow for the most accurate comparisons across plan types and sizes.
- Public Defined Contribution (DC) – University System of Georgia
- Nonprofit DC <$500MM – Cobleskill Regional Hospital
- Nonprofit DC >$500MM – Yale University
- Corporate 401(k) <$25MM – Tingley Rubber Corp.
- Corporate 401(k) $25MM–$50MM – Bohannan Huston, Inc.
- Corporate 401(k) >$50MM–$100MM – Novaspect, Inc.
- Corporate 401(k) >$100MM–$250MM – Phifer Inc.
- Corporate 401(k) >$250MM–$1B – Vision Service Plan
- Corporate 401(k) >$1B – Thermo Fisher Scientific
- Total Retirement Offering – Sumitomo Machinery Corp. of America
Congratulations to the 2020 Plan Sponsor of the Year finalists and winners!