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401k meeting announcement

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401k meeting announcement
April 01, 2019 Anniversary Wishes For Parents 3 comments

Etsi töitä, jotka liittyvät hakusanaan k enrollment meeting announcement tai palkkaa maailman suurimmalta makkinapaikalta, jossa on yli 16 miljoonaa työtä.

• Pre-Enrollment Memos and Announcements build plan excitement and anticipate

   questions prior to group enrollment.


• On-Site Group Enrollment or Individual Meetings scheduled at your convenience.


• Group Investment Education Meetings help existing participants make informed

   deferral and asset allocation decisions.


• Group and Individual Investment Advice offers hands-on assistance to help

   participants select funds based on a customized risk profile questionnaire.


• Bilingual Capabilities allow us to serve diverse workforces and ensure clear

   understanding during enrollment.


• On-Demand Education presents customized, pre-recorded education modules via

   company intranet on a range of topics:  Plan Basics, Asset Allocation, Pre-Retirement Planning,

   Loans or Market Timing.


• Gap Analysis Program identifies lifestyle needs and delivers meaningful retirement

   planning guidance.


• Individual Financial Planning Services are also available and delivered to employees

   in an environment of privacy and trust.


Frequent and positive communication to participants benefits everyone in the following ways:


• Increases plan participation and elective deferral contributions

• Promotes appropriate asset allocations

• Builds greater financial security for plan participants

• Lowers exposure to fiduciary liability and participant litigation

The Employee Benefit Research

Institute tells us that more than

50 percent of all plan participants

have yet to complete a retirement

needs calculation, even as more

responsibility for retirement

outcomes shifts to employees.

What’s more, only 13% of workers

are very confident that they will

have enough to retire comfortably.


Plan sponsors shoulder a huge

responsibility to keep employees

informed.  Here’s how McCulley

Financial Group ensures you do.



As a result, this topic tends to be raised only at committee meetings when there was a So take some time and write a cover memo. Or ask.

Most On-Site 401(k) Seminars Deliver Information Without Results

401k meeting announcement

If you are like most 401k plan sponsors, you worry about whether your 401k plan investment committee is focused on the right stuff. Is the committee using its time wisely talking about what is important? Or do you spend way too much time agonizing about investment performance? I believe that 401k plan investment committees should focus on reviewing the following at their meetings:


Investment option costs (and performance)

This is one item that investment committees generally get backwards. It isn’t that committees don’t spend time on cost, it’s that most spend way too much time on performance, the markets, investment strategies and outlooks. Keep in mind that investment committees have no control over past investment performance, future performance or the markets. But they do have control over the cost of the investment options offered.


The Department of Labor (DoL) has made it clear, and significant litigation has reinforced, that plan sponsors need to closely monitor the cost of the investment options in their menu. Keeping an expensive fund option in a 401k line-up, when cheaper options are available, exposes an employer to considerable litigation risk. Yes, your committee should review investment performance, but it should focus intently on investment option costs.


Provider costs (and performance)

The DoL recommends bidding out your provider services (e.g.; trustee, custody, recordkeeping and investment advisory services) every three to five years. However, it is not necessary to run an RFP process every three to five years. This requirement can be satisfied by conducting a benchmarking study that focuses on where your plan stands relative to the marketplace on costs and services. Make sure that any benchmarking reports and/or RFP responses find their way into your plan file, even if you don’t make a change. It is important to be able to document your vigilance in monitoring plan costs and provider performance.


Feature utilization and plan design


Nearly all recordkeepers produce detailed reports that document practically every aspect of your 401k plan. Make sure your committee reviews a representative sample of these reports periodically to gain an understanding of how participants are using the plan. Loans, hardship withdrawals, website usage and transfer frequency are among the features that should be reviewed.


Committees should review and discuss the latest trends in plan design and how they may or may not work in their plans. For example, it has become popular to re-enroll non-participating employees into target date funds each year at a predetermined contribution rate. Studies have found that less than 10% opt out. If you haven’t discussed plan design elements like this at your committee meetings, please consider starting.


Employee communications


Most investment committees don’t spend nearly enough time talking about employee communications, typically delegating all communications responsibilities to HR. As a result, this topic tends to be raised only at committee meetings when there was a communications problem. Be proactive with every decision made and create a communications plan.


Review your 401k plan’s annual communications schedule with your committee (including samples of the pieces used). Discuss resources (hard copy, electronic, paycheck stuffers, corporate newsletter, etc.) used to communicate with employees and how the plan may be presented more effectively.


It is helpful, I think, to over-communicate with your employees about your 401k plan and do more than what is required. Many required notices (safe harbor, fund change, etc.) are not written with the goal of communicating clearly to employees. Rather, the wording in these notices is suggested by federal authorities and not modified (out of fear) by plan sponsors. So take some time and write a cover memo. Or ask your investment advisor to write one for you. A 401k plan that employees understand is much more highly valued than one that is misunderstood or ignored.


Fiduciary responsibilities

Having worked with investment committees for more than 30 years, I can confidently state that no one who joins an investment committee has an understanding of what their fiduciary responsibilities are. Many join feeling they have a duty to make their 401k plan better. However, all newly appointed committee members bring their personal and corporate biases with them.


As a result, the most difficult challenge I face each time investment committees make a decision is persuading committee members to leave their corporate, investment and personal biases’ outside the room. Since most are officers in their companies and considered HCEs (Highly Compensated Employees), I ask them to picture a typical non-HCE at their firm and how that person would feel about a decision. Many have a hard time doing this since they are conditioned to please their bosses.


If you see committee members who can’t leave their corporate and personal biases’ at the door, it is your duty to ask them to resign from the committee. I have actually seen courageous HR leaders kick high-ranking executives off investment committees. It takes a lot of political savvy and courage for an HR leader to do that, and I take my hat off to them.


Make sure you spend a portion of at least one meeting each year on fiduciary responsibility education. Your investment advisor should be able to lead that discussion. Most, like me, are Accredited Investment Fiduciaries (AIF) who spend a lot of time staying up to date on fiduciary responsibility.


Documentation of discussions and decisions

If it isn’t documented it may not have occurred. Minutes should be taken at every investment committee meeting and reviewed and approved at the following meeting. Although you are not required to document discussions, and I don’t recommend documenting discussions the majority of the time, when you arrive at a decision that may not make sense without some added background, it is smart to share the reasoning. It is also important to document some discussions that may not result in decisions. For example, those discussions that relate to costs.


I believe that nearly all meetings can be captured with minutes that are only one page long. If you are ending up with more than one piece of paper for meeting minutes, you are likely taking minutes that are too detailed and might raise more questions than they answer when someone looks back at them.


Hopefully, your investment committee is already using its time to discuss the issues outlined above. If not, consider introducing these topics at your next meeting.

Like this:



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Announce a Company Savings Plan

401k meeting announcement

Sample Letter #1


In our ongoing efforts to improve your employee benefits, we are pleased to announce that effective September 1, Doe Corporation will participate in a savings plan available to all full-time employees.

For anyone who saves at least 3% in the master retirement plan through payroll deduction each month, Doe Corporation will deposit a matching 3%. Employees may have a payroll deduction of up to 17% of their gross income each month, making a total possible tax-deferred savings each month of 20%.

The benefits office will mail further information and enrollment forms to your home address. They will also hold a meeting on August 15, to explain the program and answer questions. If you plan to participate, you must sign up before August 20.

Sample Letter #2


We are pleased to announce three saving plan options for all full-time employees. The following are available through payroll deduction: l) Any amount up to 17% of your salary may be automatically deposited in a tax sheltered annuity, 2) U.S. Savings Bonds may be purchased, and 3) deposits may be made into a supplemental retirement fund.

If you participate in option 1, the company will contribute an amount equal to 3% of your salary into the supplemental retirement fund.

Complete information and enrollment forms will be included with April 1 paychecks. Personnel in the Benefits Office can answer your questions.

Sample Letter #3


Beginning November 1, Doe Hardware will offer the Springfield Bank's Match-Funds savings program to employees who wish to participate.

You may choose automatic payroll deductions of up to 17% of your gross income. The company will match up to 3%.

Some restrictions apply. See Jane Doe for a brochure with more detailed information and an enrollment form. If you wish to participate you must complete this form by October 15.

Sample Letter #4


Doe University is pleased to offer our employees a new company savings plan. In cooperation with Doe Credit Union, employees may now have money deducted directly from their paychecks and put into a special account. We have a variety of special accounts from which to choose. Please refer to the enclosed brochure for more information.

This is a relatively painless way to save, and we appreciate the credit union's cooperation in assisting all of us in the difficult task of putting aside money for the future. If you have further questions or want to enroll in a specific plan, please call the credit union at 555-5555.

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Are you interested in creating a new (k) for your company or re-assessing your current retirement plan to make sure you have the most cost.

401k enrollment meeting announcementproiecte

401k meeting announcement

Miss this months newsletter?   Then you missed a lot!

             Did you know that there is a wealth of information in our semi-monthly newsletter? From remembering the date for your PTL's birthday to THC Wellness Program information, we've got you covered!  
Have a topic you would like to see in the newsletter?  Please submit to Cindy Wooley at the Central Business Office or email submission to  [email protected] 


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March 03, 2017THC Employee 401k Plan Entry Notification; Chili Cookoff Winner Announced; Wellness Program: March is National Nutirition Month; Whats the buss - THC MIPS Challenge and test recap; NextGen Helpful Hints - Insurance Selection New Features

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February 3, 2017W-2 Questions? Contact the Payroll dept at [email protected] ; What's the buzz? THC IPS Challenge is on!; NextGen Helpful Hints - "Demo Tasks"; THC Wellness Program-Wellness Newsletter Link; Benefits Corner: Lnicoln Financial Group-Premiums; Tax Season Again -IRS Tax Filing Datres and Refund Dates

January 20,2017Notice -Tax forms scheduled for distribution; February Employee Birthdays; THC MIPS Challenge begins; THC Wellness Program - Heart Awareness Month; Collections Incentive Program-Who are the winners?; THC Benefits Corner

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Quarter Clinic and PTL Awards (4th Qtr 2016 Announcement)





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December 09, 2016  -Other Collections-November Winners, December Employee Birthdays, Moved Lately? Report address changes, Culture Committee News - Order T-shirts, 401K Qtr Plan Entry - Entry needed by 12/31, Baby Announcement-Kerri Cobb (Daughter); End of Year - FSA Use or Lose

November 25, 2016  -401K Qtr Entry, FINAL REMINDER Open Enrollment closes 12/01/2015, Holiday in the Park - THC discount tickets, Baby Announcement-Lisa Richards (grandson)  

November 11, 2016 Payroll Department will be available for questions the day after Thanksgiving 8 - 10 am; 401k Summary Annual Report and SBC distributions; Open Enrollment Information; Other Collections Program and October Winners;  Notice of 2015 SARs(Welfare Benefits and Cafeteria Plans) distribution 

October 28, 2016 Opoen Enrollment meetings; Other Collections Program and September winners; 2017 Benefits form are due 12/01/2016; Daylight Savings time "Fall Back", IT Tips - Drive By Downloads; Flex Spending Account -Use or Lose

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September 30, 2016  Third Payroll check of the month-no benefit premiums deducted; Final 3rd QTR Plan Enry Ntification of 4% Automatic deferral; IT Securitiy Tips; IRS-Beware of Fake IRS Tax Bill Notices; Wellness Program - UHC E-Newsletter; Upcoming Area Events in October- FrightFest and Boo at the Zoo

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August 7, 2015  - THC Wellness, Immutrac - Immunization registry, United Health Care app - Heath4me, August Birthdays

Etsi töitä, jotka liittyvät hakusanaan k enrollment meeting announcement tai palkkaa maailman suurimmalta makkinapaikalta, jossa on yli 16 miljoonaa työtä.

401k meeting announcement
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