The first Pensions & Investments Investment Education Awards will be presented at the P&I Defined Contribution Conference in New York Jan. 31 to Feb. 2.
The awards will recognize companies sponsoring defined contribution plans that have done an outstanding job of educating plan participants about how to invest their defined contribution plan assets wisely to provide for their retirement.
The awards will be presented in three categories:
Printed material - initial educational brochures;
Printed material - on-going educational communications;
Video/PC interactive programs, initial and on-going.
The awards will be presented in three size categories: Fewer than 1,000 employees, 1,000 to 5,000 employees and more than 5,000 employees. Sponsors will be separated into two categories: corporate and other entities.
The materials and programs must be aimed at educating employees about key aspects of the savings and investment process:
why they should begin saving early;
the nature of various investment vehicles such as stocks, bonds and cash equivalents;
the long-term risk and return characteristics of each investment vehicle;
the meaning and power of compound interest; and
the relationship of these concepts and vehicles to employees' particular life situation and retirement goals.
The entries will be judged on their persuasiveness, their understandability, their attractiveness and accessibility. The interactive programs also will be judged for ease of use. Evidence of effectiveness must accompany each entry, such as improvement in asset allocation or participation, or responses from employee focus groups.
The entry must be submitted by the defined contribution plan sponsor. The educational program need not have been developed by the plan sponsor alone. Sponsors are allowed to enter more than one category.
Entry forms will be printed in the Oct. 19 issue of P&I, and also are available from Christine Philip at (312) 649-5217.
The deadline is Nov. 15.