Employee Education and Communication Services
The true measure of success for any plan is whether it provides adequate retirement benefits to plan participants. Our employee education and communications strategy is client centric, based on the client's culture and employee demographics. We begin by helping clients to maximize their vendor relationships, and to use available materials or services to deliver participant education and communication more effectively. We are frequently asked to supplement the vendor offerings by preparing customized communication and education materials, as outlined below.
For defined contribution plans, our overall objectives are:
- To maintain high levels of participation
- To achieve above-average employee contribution levels
- To assist employees in creating long term individual investment portfolios
The first step is to educate employees to enroll in the plan once they become eligible. To increase participation levels, we use a successful combination of personalized enrollment materials, group meetings and one-on-one sessions.
The second step is to encourage participants to continue to increase their level of savings, as appropriate. We engage participants through a combination of onsite group and individual meetings, educational seminars and workshops.
The third step is to help participants maintain a well-diversified portfolio over time. We offer group and individual sessions, designed to assist participants throughout the retirement planning life cycle, which includes the accumulation, pre-retirement and distribution phases.
For defined benefit plans, our overall objectives are:
- To increase employee appreciation of this frequently misunderstood and undervalued benefit
- To help employees understand how this benefit integrates with Social Security and other savings plans to provide a total retirement income
Cammack LaRhette Consulting can provide other related employee education and communications services, such as:
- Awareness programs, plan education and benefit guides, and custom communications related to the plan
- Individual employee statements that show current accrued and projected benefits, including estimated benefits from Social Security
- A summary of plan provisions, with examples describing how the plan works, as well as the types of benefits available
- Individual projections of benefits at various retirement ages
We also frequently assist clients with issue-specific employee education. Once we have discerned a need or a recurring employee issue, we will develop and implement a communication strategy to address these matters. Typical support might include periodic newsletters on current benefit topics, educational seminars, email campaigns, podcasts, or group meetings and presentations relating to retirement planning.
