Anchorage School District (ASD) offers both a 403(b) and 457(b) plan to its employees. Despite taking several steps over the years to increase plan access and availability, both plans continued to have lower than average participation rates, more notably the 457(b) plan. Heading into 2020, ASD renewed its focus on increasing participation in both plans. To help reach this goal, it implemented a detailed strategy for the year that included four key tactics:

  1. Introducing online enrollment to make it easier to start participating;
  2. Beginning a formalized program to introduce and promote the plans during the new hire onboarding process, featuring both ASD benefits staff and Plan Advisors from industry partner Empower Retirement
  3. Using National Retirement Security Month to continue the momentum towards the end of the year to promote the benefits of the plans to existing employees; and
  4. Updating the provisions of the 457(b) plan to mirror the eligibility and loan provisions of the 403(b) and allow all employees to enroll in either or both of the plans.

  • Version
  • 0.00 KB File Size
  • July 28, 2021 Create Date
  • August 31, 2023 Last Updated
Anchorage School District- 403(b) and 457 Plans: Enrollment Campaign and Plan Enhancements