Optimizing Your Plan For Participant Success

Optimizing a retirement savings plan for participant success is one of the ultimate goals of any employer, but it requires thoughtful planning. For many participants, it is the only investment savings vehicle they will ever use and therefore it should be designed to be approachable and understandable. It should provide investment options and diversification without being over-complicated. It should weigh the overall costs with the potential investment opportunities. And, it should contemplate the needs and financial acumen of its participants and be communicated in such a way to make decisions easier for them.

Plan Sponsors are governed by a fiduciary standard which requires that they act prudently and make decisions for the sole interest of the participants and beneficiaries of the plan and for the exclusive purpose of providing benefits and paying plan expenses. However, the reality is that they are often in the difficult position of balancing their time and resources with the need of developing an investment program that serves a diverse participant population. We believe that by framing each decision with the end in mind—participants’ retirement success—Plan Sponsors can design their plan to meet these objectives in a streamlined and efficient way.