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Communicating 403(b) Quarterly enrollments
Benefits & Compensation
Communicating 403(b) Quarterly enrollments
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Our 403(b) plan is set up to allow new enrollments and/or elective deferral increases every quarter. We have many remote locations, and I have learned the Managers and Supervisors that I have entruste
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Forums » Topic Forums » Benefits & Compensation » Communicating 403(b) Quarterly enrollments
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Communicating 403(b) Quarterly enrollments
posted at 7/28/2010 1:35 PM EDT
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Posts: 3
First: 11/16/2005 Last: 7/29/2010 |
Our 403(b) plan is set up to allow new enrollments and/or elective deferral increases every quarter. We have many remote locations, and I have learned the Managers and Supervisors that I have entrusted to post these quarterly opportunities have NOT been posting (thus explaining a less than .001% increase in deferrals and 0 new starts we saw last quarter). How do you all take care of your announcements? We are a non-profit and have a very small budget for this sort of thing. Any suggestions? |
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Communicating 403(b) Quarterly enrollments
posted at 7/29/2010 4:36 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
(1) Email quarterly
(2) Note in paycheck or two prior to enrollment/change date Do the managers themselves participate? If not, I suspect that is one reason why they don't pass the information on. Is there any kind of employer contribution? Participation will always be lower if there is not one. |
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Communicating 403(b) Quarterly enrollments
posted at 7/29/2010 10:00 AM EDT
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Posts: 3
First: 11/16/2005 Last: 7/29/2010 |
`80% of our employees do not have email. Our checks come pre-sealed, and check memos were not much more successful than asking managers for help.
Do you think requiring each division to supply me with a sign-off sheet declaring they did indeed ask to each employee about joining the retirement plan would work -- or is it too harsh? |
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Communicating 403(b) Quarterly enrollments
posted at 7/29/2010 11:10 AM EDT
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Posts: 464
First: 6/30/2004 Last: 11/22/2010 |
If it goes toothless, your outcomes will not be different.
In my view, the real key is that this be a performance indicator for the appropriate personnel and failure gets written up with appropriate impact on evaluations. In the real world, this sort of thing does not even get on many job descriptions and it is far down the list of priorities of most management level staff. Most of those jobs have way more important production priorities that this. I am not saying it is not an important function, but it will probably not get any better if you have to continue to rely on those that are not doing the job now, unless there is some shift above you with regard to setting those supervisor priorities. JMO |
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Communicating 403(b) Quarterly enrollments
posted at 7/30/2010 5:42 AM EDT
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Posts: 2442
First: 2/12/2000 Last: 9/14/2011 |
If 80% of your staff does not have email how do you do employee wide communications and other important announcements?
Consider the use of either intra company mail or external mail to get the message out and good communication pieces to sell the benefits to staff to enroll. |
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