He talks building better plans to give participants the push they may need to achieve retirement success. Parrish is managing partner and senior ERISA consultant with Chicago-based Blue Prairie Group.
401k Specialist Magazine interviews Ty Parrish, who discusses the concept of “Blue Ribbon” retirement plans. These plans are described as best-in-class, tailored to meet the needs of participants by driving better outcomes through the implementation of best practices.
Parrish emphasizes the importance of creating plans that cater to different participant needs, similar to how some people need personal trainers while others prefer to work out alone. He also mentions that labeling a plan as “Blue Ribbon” helps committees to recognize and adopt best practices, improving overall plan outcomes.
For more information, you can view the video here.