Trying to ease employees' concerns about paying off student loans while saving for retirement and seeking to encourage more contributions by participants in DC plans were the primary themes at the 2019 Excellence & Innovation Awards presentation.
Executives of five defined contribution plans were honored for their efforts during the awards presentation, which took place at Pensions & Investments' annual West Coast Defined Contribution conference in San Diego Nov. 3-5.
The judges also awarded honorable mentions to a plan executive and a trade association that represents government defined contribution plans.
This is the eighth year for the awards, presented by P&I and the Defined Contribution Institutional Investment Association, Washington, which put a spotlight on innovations and excellence in executing best practices to bolster participants' retirement readiness.
"It's our hope that recognizing and sharing the good work of these DC executives will encourage others to follow in their footsteps or devise their own unique initiatives for helping participants," P&I Editor Amy B. Resnick said. "Their programs revealed an incredible amount of creativity, planning and work that went into pushing these plans forward."
Added Lew Minsky, Palm Beach Gardens, Fla.-based president and CEO of the Defined Contribution Institutional Investment Association: "It's humbling to think about how far we've come in the eight years that have passed since we started these awards. Each year brings a new set of innovations and themes, and this year we saw a number of impressive nominations for creative and thoughtful plan sponsors that are doing innovative things to drive better outcomes for their participants."