PLANSPONSOR - April - May 2022 - 13

about in the third quarter, with a target
to deploying in [the next] calendar year, "
Adams says. " Looking at Roth features,
automatic enrollment, automatic escalation-depending
on when they're trying
to accomplish things-we'd see that with a
specific timeline out 12 months.
" Some things fall
into that annual
target of 'we want to try to get this done
in calendar year 2022 or 2023,' but the
goals of improving participant outcomes
should be pretty consistent, " he says.
He suggests that the sponsor partner
with an entity that understands its planspecific
needs, knows
the retirement
space, and can provide benchmarking and
other measurement plan tools.
Plan sponsors are better off
depending on their recordkeeping
partner and retirement plan adviser vs.
going it alone, suggests Adams. " We work
in concert with the client and the recordkeeper
to see what we can do to try to
move the needle as far as the participant
outcomes go, " Adams says. " The recordkeeper
will be able to give us a bunch of
reporting on topics such as website utilization
and interaction, call center utilization
and interaction, and, when somebody
goes online, what are they doing? "
During quarterly meetings each year,
the plan sponsor will meet with Fiducient
representatives, " as well as with the relationship
manager representative from the
recordkeeper to talk about what tools and
resources they have to deploy, " Adams says.
The recordkeeper will have substantial
participant-level data and can produce
co-branded materials relative to anything
that will improve participant engagement.
Once the plan sponsor has set its
goals, tracking progress is key. One tool,
used for managing the plan's features, is a
plan health scorecard. This monitors what
features have been turned on and off, in
this way conducting an ongoing review of
each aspect of the plan, Adams says.
" It's great to put together these
campaigns, but if you're not keeping score,
how do you know if you're winning or
not? " he says. -Noah Zuss
38%
41%
37%
30%
24%
27%
10%
Have
too little
flexibility
Want to
relocate to a
different area
Have too
few hours
Refuse to get
a COVID-19
vaccine
*Those who identify as Black, Asian, Hispanic, some other ethnicity or multiple
ethnicities.
Source: Pew Research Center, American Trends Panel
Self-Funded
How much potential savings do plan sponsors need to
see before moving to a self-funded health-care plan?
25% or greater savings
20% savings
15% savings
10% savings
5% savings
8%
29%
29%
28%
6%
Source: WellNet, Second Annual Self-Insured Survey
TIDBITS
Quitting Time
Notable differences appear in terms of race and
ethnicity in why workers left their job last year.
Reasons for quitting
n Non-Whites* n Whites
52%
PLANSPONSOR.COM April - May 2022 13
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PLANSPONSOR - April - May 2022

Table of Contents for the Digital Edition of PLANSPONSOR - April - May 2022

INSIGHTS
INDUSTRY ANALYSIS
RULES & REGULATIONS
UPFRONT
The DE&I Lens
By Design
Things People Do
Leakproof Your Plan
The ESG Decision
When Retirees Stay in the Plan
PLANSPONSOR - April - May 2022 - Cover1
PLANSPONSOR - April - May 2022 - CT1
PLANSPONSOR - April - May 2022 - CT2
PLANSPONSOR - April - May 2022 - Cover2
PLANSPONSOR - April - May 2022 - 1
PLANSPONSOR - April - May 2022 - INSIGHTS
PLANSPONSOR - April - May 2022 - 3
PLANSPONSOR - April - May 2022 - INDUSTRY ANALYSIS
PLANSPONSOR - April - May 2022 - 5
PLANSPONSOR - April - May 2022 - RULES & REGULATIONS
PLANSPONSOR - April - May 2022 - 7
PLANSPONSOR - April - May 2022 - 8
PLANSPONSOR - April - May 2022 - 9
PLANSPONSOR - April - May 2022 - UPFRONT
PLANSPONSOR - April - May 2022 - 11
PLANSPONSOR - April - May 2022 - 12
PLANSPONSOR - April - May 2022 - 13
PLANSPONSOR - April - May 2022 - 14
PLANSPONSOR - April - May 2022 - 15
PLANSPONSOR - April - May 2022 - 16
PLANSPONSOR - April - May 2022 - 17
PLANSPONSOR - April - May 2022 - The DE&I Lens
PLANSPONSOR - April - May 2022 - 19
PLANSPONSOR - April - May 2022 - 20
PLANSPONSOR - April - May 2022 - 21
PLANSPONSOR - April - May 2022 - By Design
PLANSPONSOR - April - May 2022 - 23
PLANSPONSOR - April - May 2022 - 24
PLANSPONSOR - April - May 2022 - 25
PLANSPONSOR - April - May 2022 - 26
PLANSPONSOR - April - May 2022 - 27
PLANSPONSOR - April - May 2022 - Things People Do
PLANSPONSOR - April - May 2022 - 29
PLANSPONSOR - April - May 2022 - 30
PLANSPONSOR - April - May 2022 - 31
PLANSPONSOR - April - May 2022 - Leakproof Your Plan
PLANSPONSOR - April - May 2022 - 33
PLANSPONSOR - April - May 2022 - The ESG Decision
PLANSPONSOR - April - May 2022 - 35
PLANSPONSOR - April - May 2022 - When Retirees Stay in the Plan
PLANSPONSOR - April - May 2022 - 37
PLANSPONSOR - April - May 2022 - 38
PLANSPONSOR - April - May 2022 - 39
PLANSPONSOR - April - May 2022 - 40
PLANSPONSOR - April - May 2022 - Cover3
PLANSPONSOR - April - May 2022 - Cover4
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https://www.plansponsordigital.com/plansponsor/february_march_2022
https://www.plansponsordigital.com/plansponsor/december_2021_january_2022
https://www.plansponsordigital.com/plansponsor/october_november_2021
https://www.plansponsordigital.com/plansponsor/august_september_2021
https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
https://www.plansponsordigital.com/plansponsor/december-january_2021
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https://www.plansponsordigital.com/plansponsor/february-march_2020
https://www.plansponsordigital.com/plansponsor/december-january_2020
https://www.plansponsordigital.com/plansponsor/october-november_2019
https://www.plansponsordigital.com/plansponsor/august-september_2019
https://www.plansponsordigital.com/plansponsor/june-july_2019
https://www.plansponsordigital.com/plansponsor/april-may_2019
https://www.plansponsordigital.com/plansponsor/february-march_2019
https://www.plansponsordigital.com/plansponsor/december_2018-january_2019
https://www.plansponsordigital.com/plansponsor/october-november_2018
https://www.plansponsordigital.com/plansponsor/august-september_2018
https://www.plansponsordigital.com/plansponsor/june-july_2018
https://www.plansponsordigital.com/plansponsor/april-may_2018
https://www.plansponsordigital.com/plansponsor/february-march_2018
https://www.plansponsordigital.com/plansponsor/december_2017-january_2018
https://www.plansponsordigital.com/plansponsor/november_december_2017
https://www.plansponsordigital.com/plansponsor/october_2017
https://www.plansponsordigital.com/plansponsor/september_2017
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