The decorations are up way too early. First it was Bowtie Day, then International Whale Shark Day and now 401(k) Day—has it really been a year already?
Although 401(k) Day is traditionally celebrated the Friday after Labor Day, this year the Plan Sponsor Council of America wants to kick it up a notch, and “is expanding the campaign’s usability.” Many younger people are not even thinking about retirement at all, but are saving to pay down debt, buy a house or fund future obligations. Therefore, PSCA will now make every day 401(k)/403(b) day. This allows plan sponsors to choose the best time to promote their organizations’ plans to align with their communication strategies.
This year’s campaign, called “5 Ways for a Secure Retirement” focuses on financial wellness. PSCA is providing materials 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, program sponsors may choose to roll out the whole campaign on the one day they set aside to be their company’s 401(k) or 403(b) Day or spread the campaign throughout the year; whatever works best for your company.
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 center on budgeting, spending, saving, planning, and sharing. Each topic area includes a variety of resources for participants.