PSNC 2015: Designing Plans for Optimal Outcomes | Industry pros weighed in on the nature of optimal plan outcome, from results—participants being able to retire when they want—to helping participants replace income in retirement, to an adequate contribution rate. The guiding principle to use in choosing plan design features, one said, should be “simplicity above all.”
Read more > | | PSNC 2015: Using Plan Design to Help Drive Engagement | “We have tremendous opportunity to influence the next generation of retirees,” Steve Anderson, head of Schwab Retirement Plan Services, said in the keynote address. There is a shift taking place in the retirement industry, Anderson said, and plan sponsors can be at the forefront of the next stage of investment evolution. Even if participant behavior is not within a plan sponsor’s control, plan design is.
Read more > | | PSNC 2015: Retirement Readiness Benchmarks | Beyond participation and deferral rates, benchmarking retirement engagement is also critical, according to one panelist. Equally important: How much annualized income can participants expect at retirement? Does an employee’s tenure factor into his individualized projections? If not, sponsors may want to reconsider what variables they use in success calculations, and what participants need to hear to make that data meaningful to them.
Read more > | |
|
|