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Best Practices Videos

Learn from your colleagues! NAGDCA will be releasing videos periodically so members can learn best practices for implementing and tips for improving their plans. 

NAGDCA members - have a question or comment you'd like to share? Visit the NAGDCA Network and begin a discussion!


2016 Videos


City of Los Angeles

To celebrate National Retirement Security Week in 2015, the City of Los Angeles worked with Segal Consulting to develop an innovative, engaging "time travel" engagement tool. The objective of the campaign and the tool was to reinforce the value of planning for financial security in retirement for active and retired Deferred Compensation Plan participants, and to help drive participant utilization of the Plan's custom Retirement Income Projection Calculator, which is a primary retirement readiness engagement tool used by the Plan to focus participants on personalized calculations of their projected placement of "lifestyle income" upon retirement. The campaign was a success by driving our engagement results higher in October 2015 relative to the campaign we conducted in October 2014. 

Video features:

  • Steven Montagna, City of Los Angeles

Employee Retirement System of Texas

When the Employees Retirement System (ERS) of Texas wanted to educate and inform eligible and current participants about the benefits of the Texas$averSM 401(k)/457 program, it  required a format for delivering critical messages in a way that was accessible, entertaining and easy to understand. Meeting these criteria was a video initiative called "Pump Up Your Savings" that was launched as a part of an overall participant education campaign. This initiative was the centerpiece of a cohesive participant outreach initiative that engaged employees to maximize the use of resources available for retirement savings. 

Video features:

  • Nora Alvarado, Employee Retirement System of Texas

Virginia Retirement System

The Virginia Retirement System (VRS) worked in partnership with ICMA-RC, the third party record keeper for the VRS defined contribution plans, to develop an effective education and communications campaign for VRS Hybrid Retirement Plan members to encourage them to contribute to their hybrid accounts beyond the mandatory one percent. The campaign launched in September 2015, building on the momentum from the successful VRS Hybrid Voluntary Contributions Campaign from the previous year. Features and updates were provided on the hybrid member and hybrid employer websites, and complemented by education and communications pieces for members and hybrid plan employers. Plan resources were streamlined to promote the benefits of saving with effective action-based messaging. New communications increased savings awareness and directed members to "resolve to save" with inspirational superhero imagery.

Video features:

  • Kelly Hiers, Virginia Retirement System

South Carolina Public Employee Benefit Authority

South Carolina Public Employee Benefit Authority (PEBA) designed a transition program for participating employers that featured educational sessions and training materials, along with a comprehensive set of resources for employee assistance. Participating employers were provided a comprehensive business transformation guide, had the option to attend monthly webinars and in-person training sessions, and were assigned a single point of contact with the vendor managing the transition. To ease the transition for participating employers, PEBA deployed a comprehensive communications and training program to develop expertise among benefits managers at each participating employer and foster a comfort level with the electronic transmittal of retirement information.

Video features:

  • Ashley Brindle, South Carolina Public Employee Benefit Authority

State of Florida – Online Communications and Plan Materials

To supplement traditional communication, the State of Florida focused on adding online communications and plan materials in 2014. The Plan unveiled its “Increase Contributions” and “Investment My Bonus” forms and buttons to allow Plan participants to submit requests to increase or maximize their payroll contributions and/or their one-time bonus allotted to 35% of the State of Florida’s employee online rather than by phone, mail, or fax. The State of Florida also launched an online chat feature using Live Chat, Inc.; with this tool, any visitor to the Plan website can instantly live chat with a staff member of the Plan during normal business hours (Monday – Friday, 8 a.m. – 5 p.m.). The electronic increase button saw almost 700 increases between 10/21/2014 and 5/25/2015, while 1,356 eligible employees invested over $693,000 of special pay into the deferred compensation plan.

Video features:

  • Kandi Winters, State of Florida

State of Missouri - Savings Unleashed Campaign

The State of Oregon Savings Growth Plan is focused on changing the way individuals think about their retirement savings — from an “accumulation-only” mindset to an “income replacement” mindset — so they are emotionally and economically prepared for retirement. Instead of simply showing its participants their accumulated balance as the main component of their online account information, Oregon’s “myOrangeMoney” prominently illustrates their savings as future monthly income and the progress they are making toward their personal goals.  

Video features:

  • Casey Fick, State of Missouri

State of Oregon
The State of Oregon Savings Growth Plan is focused on changing the way individuals think about their retirement savings — from an “accumulation-only” mindset to an “income replacement” mindset — so they are emotionally and economically prepared for retirement. Instead of simply showing its participants their accumulated balance as the main component of their online account information, Oregon’s “myOrangeMoney” prominently illustrates their savings as future monthly income and the progress they are making towards their personal goals.  

Video features:

  • Kathy Gannon, Program Coordinator - State of Oregon


2015 Videos


Metropolitan Transportation Authority
The Metropolitan Transportation Authority introduced an asset allocation product in 2013 to add additional flexibly to their already successful target-date offering without overwhelming their employees with burdensome investment management responsibilities. MTA Plan participants can now use the existing investment lineup to create diversified portfolios that take into account their risk tolerance AND years to retirement.

Video features:

  • Kim Russell, Director - Tax Favored Programs, Metropolitan Transportation Authority

State of North Carolina
The State of North Carolina targeted plan participants who were eligible for matching employer contributions but weren’t taking full advantage of them. They communicated to these participants their “next best savings step,” to increase their savings to the level that would allow them to capture every employer-matching dollar to which they were entitled. As a result, five percent of those targeted increased their savings by an average of 2.5%. Of those who increased their contributions, 70% of them are taking full advantage of employer match.

Video features:

  • Steve Toole, Director of Retirement Systems, State of North Carolina



State of Michigan 

The State of Michigan was concerned their participants weren't planning for their retirement and so they made changes to motivate their employees to plan for the future. They encouraged participants to contribute enough to get the full match and required automatic enrollment, as well as made changes including an overall fee structure reduction, loan privilege added to 457 Plan balances, and improved navigation and financial planning features on Plan websites. Results include a 92% participation rate in the Plan and a combined average deferral rate of 4% into the 457 and 401(k) plan.

Video features Kerrie Vanden Bosch, Director of Plan Development and Compliance for the State of Michigan/Department of Technology Management and Budget/Office of Retirement Services 



Los Angeles Unified School District
 

The Los Angeles Unified School District launched a new 457(b) plan in 2006, hoping to create a plan to compete with higher-cost 403(b) plans offered to employees of the school district. Acknowledging that the record-keeping and administrative costs are fixed by the “revenue neutral” administration, the Investment Subcommittee of the Los Angeles Unified School District embarked on improving the Plan’s mutual fund offerings to the lowest possible share class of the funds available, adding additional low cost index funds to assist with portfolio diversification and added two actively managed balance asset allocation funds to the portfolio. This improvement translated to a 65.6% reduction in actual mutual fund fees paid by participants. The video also discusses communication and education process for plan participants.

Video features:

  • Miriam Hironimus, Benefits Manager, LAUSD 
  • Sandy Keaton, Chair of UTLA's Pre-Retirement Issues Committee, LAUSD United Teachers Los Angeles Representative
  • Steve Schullo, Retired Elementary Tearcher, LAUSD Member-at-Large

 

 
 

 


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