Participant Education/Effective Communication
Category includes: Communication materials on the “benefits of the supplemental retirement plan” to potential and current participants, as well as other interested parties.
Plan Design & Administration
Category includes: Changes in plan design (e.g., Automatic Enrollment, Roth, customer service, etc.); and administration (e.g., online access to board manuals).
National Retirement Security Week
Category includes: A campaign or specific strategy that raised awareness of National Retirement Security Week, increased enrollments/deferrals, and/or generated media coverage.
Technology and Social Media
Excellence in Governmental 403(b) Plans
Category includes: A technological advancement/enhancement in government processes, an app for smart devices, or a unique way of participating on social media platforms.
The Excellence in Governmental 403(b) Plans Award was designed to recognize
a plan sponsor that created or developed significant innovations that
address the retirement readiness of their employees, and concurrently,
have contributed to the larger thought leadership concerning the unique
challenges that are facing governmental 403(b) plan sponsors.
To qualify for this award the following criteria must be met:
1) would be worthy of recognition, therefore not something that would be
considered part of the normal course of retirement plan operations
2) could be objectively measured (i.e. statistics regarding improved
retirement readiness, improved employee engagement, etc.) and
3) would be recognized as contributing to the larger issues that
confront governmental 403(b) plans (budgetary constraints, addressing
retirement outcome concerns, addressing lifetime income issues,
integrating DB components into the DC plan)