Bolstering financial health, improving retirement readiness, reducing fees and helping participants better understand the complexities of Medicare and Social Security were among the top-of-mind issues for plan sponsors recognized with a 2019 Eddy Award.
In all, 66 defined contribution communication campaigns were honored March 11 for their efforts to motivate and educate participants at the 25th annual awards program sponsored by Pensions & Investments. This year, P&I added a new category, financial wellness, to the awards program and recognized 12 campaigns.
"Plan sponsors and service providers put a tremendous amount of thought and effort into their education campaigns," said P&I Editor Amy B. Resnick, who also served as one of 16 program judges. "The focus on helping participants get the most out of their plans and benefits was truly impressive."
In the conversions category for corporate plans, first-place winners were JetBlue Airways (service provider: Empower Retirement) for plans with more than 5,000 employees; Haynes and Boone LLP (Charles Schwab & Co.) for plans with 1,000 to 5,000 employees; and TECO-Westinghouse Motor Co. (Wells Fargo Institutional Retirement and Trust) for plans with fewer than 1,000 employees.
JetBlue used the company's first-ever change of record keeper — to Empower Retirement— to help build participant confidence in the new provider. Its materials built off the airline theme: "Cleared for Landing: Welcome to Empower." TECO-Westinghouse, meanwhile, sought to add an element of fun to its provider change, rolling out a communications campaign featuring Willie and Winchester, two longhorn cattle that live outside the company's headquarters.
Also, in the conversions category, the not-for-profit/other winners were Savannah River Nuclear Solutions LLC (Transamerica Retirement Solutions) for plans with more than 5,000 employees and the University of Minnesota Physicians (Empower Retirement) for plans with 1,000 to 5,000 employees. Metropolitan Water District of Southern California (Empower Retirement) took first place among public plans.