Personalized Communication Helps Participants Maintain Savings Rate

Securian said participants who received a personalized Annual Checkup on their quarterly statements measuring the adequacy of their deferral rates are setting aside the same amount or more despite the down economy.
A Securian news release said more than half its retirement plans receiving the check-up experienced a modest increase in their average contribution rates.

The company pointed out that it also recently rolled out the Personal Savings Illustration, customized for employees who are eligible but not participating in the plan. The illustration uses each individual’s data to show the results they could experience under different savings scenarios.

“The value in personalized communication for employees is that it simplifies choice and presents the information in a personally relevant manner,” said Jo Dahlen, marketing director, Securian Retirement, in the news release. “The Personal Savings Illustration includes an easy-enroll card with preselected choices. The employee simply signs the card and drops it in the mail.”

As part of its suite of educational services, Securian also sends messages in the quarterly plan statements and on the Web that are customized by age and employee behavior, Securian said.