Los Angeles City Deferred Compensation Plan won the second Art Caple President's Award, offered by the National Association of Government Defined Contribution Administrators.
The $7.1 billion 457 plan was recognized for its 2019 National Retirement Security Week campaign "The Best Plans are with your Friends," according to a NAGDCA news release Thursday.
The campaign centered on an interactive exercise called the "Be a Friend Challenge," which provided five suggested steps for each of the plan's audiences — active participants, retirees and eligible non-participating employees — in order to be eligible for a prize drawing.
The campaign resulted in a 57% increase in enrollments during the promotional period compared to a similar campaign the previous year.
"Our goal with this campaign was to provide a catalyst for employees to engage with their accounts and with their peers to enhance their retirement readiness. We're thrilled to be recognized for achieving our objectives for this campaign, which both prompted participants to take action in their accounts and promoted discussion of the DCPs benefits," said Steven Montagna, the deferred compension plan's executive director, in the news release.
NAGDCA Executive Director Matt Petersen said in the news release: "We applaud the City of Los Angeles Deferred Compensation Plan for its tireless efforts to create engaging campaigns that spur participation and advance understanding of the many facets to attaining a secure retirement."
The award honors the late Mr. Caple, a former NAGDCA president and a leader in public-sector retirement income security.
