This “Best Practices Guide” publication is a series of guides designed as a resource for state and local government administrators of defined contribution plans. Our goal is to provide you with some of the best thinking from the plans that comprise NAGDCA’s membership.
A “best” practice is by definition subjective. It is a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark. Best practices are used to maintain quality. But of course what’s “best” for one plan sponsor may not be what’s “best” for all plan sponsors. In addition to being subjective it is also dynamic. Our ideas about what’s best can and will evolve over time. When applying best practice to organizations, the strategic ability to balance the unique qualities of one’s own organization with the practices that it has in common with others is important.
We hope this guide is a helpful tool for you and others within your organization. If you have questions that are not addressed in this guide, please reach out to NAGDCA so we can help with answering those questions. We are always here to provide help when you need it, and wish you much success in administering your program.
Section 1 - Plan Administration
Section 2 - Plan Governance
Section 3 - Plan Design
Section 4 - Communications/Participant Education
Section 5 - Plan Sponsor Education
Section 6 - Plan Transition
Published: September 2013