Who are the champions?
Pensions & Investments and the Defined Contribution Institutional Investment Association are seeking to identify and honor defined contribution plan executives who are advocating for — and doing the most to accomplish — changes in their plans that improve participants' retirement outcomes.
DC plan executives “are going above and beyond trying to ensure their employees are going to have a secure retirement,” said Lew Minsky, executive director of DCIIA, who is based in Jupiter, Fla. “Through the awards, we want to provide a forum to highlight what they are doing and inspire others to follow in their footsteps.”
The Innovator Awards, being sponsored for the fourth year by P&I and DCIIA, have recognized DC plan officials who have enhanced retirement education, raised participation rates and account balances, and restructured DC plans to be simpler yet more effective.
Nominations are due May 15. Winners will be announced at P&I's West Coast Defined Contribution Conference, scheduled for Oct. 18-20 in San Francisco.
The Innovator Awards aim to recognize plan officials and their employers for unusual, even out-of-the-box efforts.
Executives at service providers are not eligible and should not be nominated.
Self-nomination by plan executives is encouraged.
Nominations also will be accepted from colleagues and people outside the organization — including those who work at companies providing services to the plan — who are familiar with the work being done.
Both the nomination and judging processes will be conducted online. The nomination form is available at www.pionline.com/Innovators.
Questions on the form are open-ended, so nominees can explain their projects any way they choose. The awards have no set categories.
The innovation must have been implemented on or after Jan. 1, 2014. Entries will be judged over the summer by a panel composed mostly of plan executives.
Last year, five winners were chosen. Eight other plan executives received awards of excellence. A gallery of all the past Innovator winners is available at www.pionline.com/innovatorarchive. Video interviews with Innovators winners are at www.pionline.com/innovatorwinners.