Top of Mind


Showing entries with the topic “Communication & Education”.

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10

Oct 2019

The Competition for Retirement Savings Dollars

In order to increase participation and savings rates in their retirement plans, plan sponsors need to figure out why people don’t save - and then provide solutions to address that problem. Identifying the problem is easy; just about every survey I’ve seen has stated that the number one participant …

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03

Oct 2019

How a Financial Wellness Expo Became the Hottest Ticket in Town

One of the biggest challenges for financial wellness programs is engaging employees. But what if I told you that one plan sponsor figured out how to pack a convention center with 3,000 people for a financial wellness expo? Yes, that is not a typo: three thousand people! This is not some retirement p…

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26

Sep 2019

What I Learned from Reading My Retirement Plan Fee Disclosure

I have a confession to make: While I have written extensively on annual participant fee disclosures for retirement plans, I have never read the participant fee disclosure for my own plan! It’s a little embarrassing, given that I work in the retirement plan industry, but to me, the idea of reading a…

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19

Sep 2019

Retirement Savings Clichés

Having been in this business nearly 28 years, I have heard almost every retirement savings cliché that there is. While some have validity, others do not. Let’s take a look at the more popular retirement savings clichés and see if they should hang around or be “retired,” themselves: “Pay yourself fi…

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12

Sep 2019

Retirement, Financial Wellness, and the Power of Simplicity

One of my favorite personal finance bloggers, J. Money, recently wrote a piece on the Beauty of Simplicity, that, in my opinion, should be required reading for pretty much everyone - and particularly for retirement plan sponsors. Why? Because we often make the participant experience far too complica…

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05

Sep 2019

Top of Mind Mailbag: The Roth Conundrum

On occasion, a Top of Mind blog post generates so many reader comments that it is worth sharing. This was the case with our recent piece on the Roth Conundrum. Below are some of the comments we received in our “mailbag”: One email addressed the potential future changes in tax law:“Great read on Rot…

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11

Jul 2019

Participant Communication: Fun = Engagement

Here is a little exercise for the retirement plan sponsors out there: take the latest piece that you’ve sent (or are about to send) to plan participants, and show it to someone in your office who knows little about the topic. Ask them to read the communication, and then ask if it was fun to read. If…

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27

Jun 2019

What is Happening to "Traditional" Retirement?

Know someone who retired at age 65 and lived out their golden years in paradise with no cares in the world? Well, I used to know people like that, but most of them are dead. While the growing FIRE (Financial Independence/Retire Early) movement is throwing the traditional age of retirement out the w…

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06

Jun 2019

Addressing the Affordability of Retirement Savings

Generally, the reason that employees fail to save for retirement is not because they don’t know the benefits of retirement savings. And, for the most part, it is not because they don’t believe in saving for retirement (although there are some with this mindset). No, the primary reason that people d…

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