Join NAGDCA Executive Director Matt Petersen, along with Brigen Winters, Michael Kreps, and Diana McDonald from Groom Law Group, for a comprehensive post-election update. They break down the election results and their potential impact on public sector retirement.
Effective communication is crucial for engaging participants in retirement plans, especially in the diverse and dynamic public sector workforce. This session will explore innovative strategies and best practices for crafting messages that resonate with different groups, from state employees to high-need participants. Attendees will gain insights from case studies on how personalized communication and targeted campaigns can drive participation and improve retirement readiness. The session will also highlight the importance of incorporating a diversity lens into communications to ensure inclusivity and relevance. By the end of this session, participants will be equipped with practical tools to enhance their communication efforts and better serve their diverse participant base.
This session explores the multifaceted landscape of retirement planning, focusing on the diverse experiences and needs of retirees. Attendees will gain insights into the impact of various pre-existing retirement income solutions on retirees’ satisfaction and decision-making. We will delve into a plan sponsor’s perspective and specific plan retiree data. The panel will explore multiple sides of the current landscape – including perceived drawbacks to current solutions, how solutions have evolved and the role of institutional fiduciaries to aid the plan sponsors in the decision-making process and how plan sponsors can quickly view the income replacement for their plan participants. This session aims to bridge the gap between retirement expectations and realities, ensuring participants are well-prepared for their retirement years.
This session will explore the diverse landscape of retirement plans within the public sector, providing a comprehensive overview of how different segments—state governments, local governments, and special districts—navigate unique challenges and opportunities. Attendees will gain valuable insights into the strategies employed by various public sector entities to enhance retirement readiness, manage plan costs, and comply with evolving regulatory requirements. The panel will discuss best practices, share case studies, and offer practical advice for plan administrators aiming to optimize retirement outcomes for their participants. This session will offer actionable takeaways to improve plan performance and participant engagement.
Join NAGDCA and Groom Law Group for an exclusive recap [...]
The pandemic accelerated a societal shift that’s been going on for years; our work lives and our personal lives are merging. Wise employers are recognizing that to have a highly productive workforce, they need to help employees develop a healthy mind, body, wallet, and life. This session will explore how some employers are making that goal a reality and provide tips for marketing the value of a career in public service with current staff or prospective job candidates. The panel will also review research that sheds light on the benefits of most interest to public employees and the characteristics of the work that attract them to the field in the first place.
Presented by the City and County of Honolulu and Maryland Teachers & State Employees Supplemental Retirement Plans (MSRP).
Since the global financial crisis, many defined benefit plans have scaled back retirement benefits, particularly for new hires and younger workers. Despite these reductions, many employees are spending all or almost all of their income, leaving little to save to help bridge potential retirement income shortfalls. On top of that, employers are faced with younger generations of workers with different views on saving and retirement. Learn about the spending and saving behaviors of public sector defined contribution participants, how plan sponsors can help participants reach a secure retirement and key considerations (including those often overlooked) for delivering income for life to members.
Public sector plan data show meaningful differences in savings and investment behaviors among employee populations that plan sponsors must consider when making plan changes and developing outreach strategies. Learn how plans can leverage data to pinpoint gaps in plan usage across key populations and what to do if data is not available. The panel will share effective participant engagement techniques and discuss special efforts to reach populations at greater risk of financial instability.
Fiduciary duties are at the core of effective plan governance, and it’s essential for plan sponsors to clearly understand their responsibilities to achieve the best results for plan participants. This session will review fiduciary duties and responsibilities and provide solutions to common challenges. Learn about recent cases dealing with breaches of fiduciary duty claims and steps plan fiduciaries can take to avoid potential litigation. The panel will also share details of CalHR’s in-house fiduciary education program, and discuss lessons learned from private plans impacted by the recent DOL cybersecurity guidance.