The National Association of Government Defined Contribution Administrators has launched a communication campaign that plan sponsors can use to help employees better prepare for retirement.
NAGDCA worked with retirement communications provider National Association of Retirement Plan Participants to create the campaign — "Your Whole Story" — as an online kit for plan sponsors to use to "engage employees in a discussion about their overall financial decision-making," according to a NAGDCA news release.
The campaign is part of NAGDCA's National Retirement Security Week, Oct. 15-21.
"'Your Whole Story' is a campaign using best practices and behaviorally effective methods to engage participants in becoming aware of their role in preparing for retirement. Specifically, it was designed to relieve the burden on plan sponsors, who are typically tasked with communicating with employees but often lack the necessary resources," said Polly Scott, current NAGDCA executive board member and former president, in the news release.
Materials on the "Your Whole Story" website include graphics and communication materials, brand identity guidelines and booklets. The campaign was tested in 2016 with participants in the $52.5 billion Los Angeles County Employees Retirement Association, Pasadena, Calif., which increased savings rates by 48% and plan participation by 25%, the news release said. NAGDCA won an award of excellence for the project from Pensions & Investments' Eddy Awards in March.
Information and materials on "Your Whole Story" are available on the NAGDCA website.