Where did the year go?
It might not have the taste of National Hot Cross Bun Day or the geek-chic of national Video Games Day, but for 401(k) advisors, it’s our time to get freaky with enrollment forms and participation rates.
Plan Sponsor Council of America is once again sponsoring National 401(k) day. This year’s theme? Financial wellness, of course.
PSCA notes that in past years, 401(k) Day was celebrated the Friday after Labor Day, to play off the concept that “you start the week with Labor Day and end the week with Retirement.”
However, as focuses have shifted to holistic financial wellness, and companies want the flexibility to focus on retirement plan education when it best fits into the corporate calendar, PSCA is now making its library of resources available to access at any time, allowing advisors and sponsors to choose the theme that best fits their participants’ needs.
“PSCA has been providing annual 401(k)/403(b) Day materials to its member companies for many years, and companies that have used the materials have experienced positive outcomes’” the organization notes. “Promoting your plans with this free member benefit program helps break through the daily clutter and gets people to think about retirement in a different way.”
The campaign includes five modules that can be used in a weeklong financial wellness campaign, covering a new topic each day that will help participants get to a financially secure place in retirement.
Alternatively, they may choose to roll out the whole campaign on the one day they set aside for the company’s 401(k) or 403(b) Day or spread the campaign throughout the year; whatever works best.
The campaign could also be done completely electronically and participants can learn at their own pace. The campaign provides e-mail banners and a link to a participant portal and employees can do all five steps, or just the ones most applicable to them.
The “5 Ways for a Secure Retirement” materials focus on budgeting, spending, saving, planning, and sharing. Each topical area includes a variety of resources for participants.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
