PLANSPONSOR - April/May 2020 - 19
COVER STORY
THE
AHEAD
ROAD
What plan
sponsors should
evaluate once
the immediate
crisis ends
A
s the coronavirus has been wreaking havoc on the economy and markets, many
employers probably have been spending little time focused on their retirement
plan. " Many clients are in survival mode, " says Stephen Cunha, director of
retirement plan services at Baystate Financial in Wakefield, Massachusetts. " They are
trying to adjust their operations. They're really, first and foremost, just trying to continue
to exist. "
But once U.S. businesses begin ramping up again and more employees return to
work, plan sponsors will need the help of their recordkeeper and plan adviser to get their
plan and participants moving forward. " We've had a shock to the system, " says Keith
Gredys, chairman and CEO of Kidder Advisers Inc. in Clive, Iowa. " Now, participants
are going to ask, " Am I on track still? And did I make the right decisions about what to
do, during the crisis?' "
In the early spring, many employers did take time to evaluate whether to suspend
their 401(k) match. " It's in the single digits, in terms of the total percentage of our clients
that have done it already, but I do think it's something that sponsors increasingly are
evaluating, " Empower Retirement President and CEO Ed Murphy said in mid-April. " A
large percentage are evaluating whether this is the type of benefit they want to touch
and, if so, when they want to do it. "
Kidder Advisers, which works mainly with the micro-plan and small-plan markets,
helped sponsors consider a match suspension and decide whether to implement the
Coronavirus Aid, Relief and Economic Security (CARES) Act's new participant loan
Art by Simone Virgini
PLANSPONSOR.COM April - May 2020 19
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PLANSPONSOR - April/May 2020
Table of Contents for the Digital Edition of PLANSPONSOR - April/May 2020
The Road Ahead
2020 DB Administration Survey
2020 Plan Sponsor of the Year Finalists
2020 PLANSPONSOR Service Stars
Same but Different
It Takes Two
Staying the Course
PLANSPONSOR - April/May 2020 - Cover1
PLANSPONSOR - April/May 2020 - Cover2
PLANSPONSOR - April/May 2020 - 1
PLANSPONSOR - April/May 2020 - 2
PLANSPONSOR - April/May 2020 - 3
PLANSPONSOR - April/May 2020 - 4
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PLANSPONSOR - April/May 2020 - 15
PLANSPONSOR - April/May 2020 - 16
PLANSPONSOR - April/May 2020 - 17
PLANSPONSOR - April/May 2020 - The Road Ahead
PLANSPONSOR - April/May 2020 - 19
PLANSPONSOR - April/May 2020 - 20
PLANSPONSOR - April/May 2020 - 21
PLANSPONSOR - April/May 2020 - 2020 DB Administration Survey
PLANSPONSOR - April/May 2020 - 23
PLANSPONSOR - April/May 2020 - 24
PLANSPONSOR - April/May 2020 - 25
PLANSPONSOR - April/May 2020 - 2020 Plan Sponsor of the Year Finalists
PLANSPONSOR - April/May 2020 - 27
PLANSPONSOR - April/May 2020 - 28
PLANSPONSOR - April/May 2020 - 29
PLANSPONSOR - April/May 2020 - 30
PLANSPONSOR - April/May 2020 - 31
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PLANSPONSOR - April/May 2020 - 35
PLANSPONSOR - April/May 2020 - 36
PLANSPONSOR - April/May 2020 - 37
PLANSPONSOR - April/May 2020 - 2020 PLANSPONSOR Service Stars
PLANSPONSOR - April/May 2020 - 39
PLANSPONSOR - April/May 2020 - 40
PLANSPONSOR - April/May 2020 - 41
PLANSPONSOR - April/May 2020 - 42
PLANSPONSOR - April/May 2020 - 43
PLANSPONSOR - April/May 2020 - Same but Different
PLANSPONSOR - April/May 2020 - 45
PLANSPONSOR - April/May 2020 - It Takes Two
PLANSPONSOR - April/May 2020 - 47
PLANSPONSOR - April/May 2020 - Staying the Course
PLANSPONSOR - April/May 2020 - 49
PLANSPONSOR - April/May 2020 - 50
PLANSPONSOR - April/May 2020 - 51
PLANSPONSOR - April/May 2020 - 52
PLANSPONSOR - April/May 2020 - Cover3
PLANSPONSOR - April/May 2020 - Cover4
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