Prince George’s County – 457(b) Enhancement Project; Expanded Tools, Streamlined Access, Paper-Free Progress

Historically, Prince George’s County administered its deferred compensation plans through multiple providers, which resulted in fragmented participant experiences, paper-heavy processes, and administrative inefficiencies. Following a thorough RFP process, the County made a strategic decision to consolidate from two recordkeepers to a single provider. In 2024, the plan completed the implementation of key enhancements identified during its initial evaluation. These improvements included a streamlined, cost-effective investment lineup that replaced underperforming funds and a more transparent, participant-friendly fee structure. The plan also introduced Roth contributions to offer flexible, tax-efficient savings options. Outdated paper-based processes for enrollment, deferrals, and contribution changes were eliminated, overcoming previous HRIS limitations that restricted deferrals to fixed dollar amounts by adding a percentage-based deferral option. Participants gained greater control over their investments through the addition of a self-directed brokerage account, along with access to fiduciary advice and one-on-one consultations with Certified Financial Planners.

By Carly Abernathy|2026-01-15T09:37:49-05:00August 10th, 2025|Comments Off

California Public Employees’ Retirement System (CalPERS) – Implementing Roth Contributions and Online Enrollment

After the SECURE 2.0 Act of 2022 was signed into law, CalPERS changed their CalPERS 457 Plan Roth contribution option from an optional feature that was adoptable at the agency level to a contribution source available to all current and future participants in the Plan. As part of its ongoing commitment to public employers and their employees, CalPERS further evolved its 457 Plan offering by adding online enrollment capabilities in late 2024 to make it even easier for employees to join the Plan and start saving to achieve their retirement goals. To announce and roll out both initiatives, CalPERS developed a strategic communication plan to increase Roth awareness and savings from existing participants and simplify the enrollment process for those who were interested in saving for retirement to the CalPERS 457 Plan.

By Carly Abernathy|2026-01-15T09:37:49-05:00August 10th, 2025|Comments Off

Washoe County – Investment Diversification Campaign

In July 2024, County staff identified the Sheriff’s Department as having the largest concentration of employees fully invested in the Stability of Principal investment option. Under the direction of the County’s Deferred Compensation Committee and staff, Voya conducted a targeted mailing to 257 affected accountholders within the Department. Following this outreach, the number of employees solely invested in the Stability of Principal option decreased to 196, resulting in 61 employees diversifying their portfolios—reflecting a 24% improvement in investment diversification within the Department. Encouraged by these initial results, the County chose to expand the diversification initiative to include all active and inactive participants in both the 457 and 401(a) Plans.