PLANSPONSOR - August/September 2020 - 2

INSIGHTS
Progressive Plans
I
n this issue, we are pleased to introduce you to the winners
of our 2020 Plan Sponsor of the Year Awards. Longer profiles
appear online. Of course, this wasn't how we planned
it. Traditionally, we host the winners at an awards dinner in
the first quarter, where they get their " Oscar moment " of
hearing us announce their names in front of hundreds of
other retirement plan industry professionals and other award
winners, past and present. Like so many other things that
" normally " happen, the pandemic changed all of that.
Because of the delay, it's already time for us, in September, to launch nominations
for the 2021 Plan Sponsor of the Year Awards. And this year, I find myself
questioning what that nomination and entry process should ask about for 2021.
What kinds of plan progress would we want to hear about?
The award has evolved and grown over the years-as it must to stay relevant. In
fact, for the first awards, PLANSPONSOR didn't formally solicit nominations from
across the industry; it recognized plan sponsors known to the editorial team to be
" demonstrating leadership in providing a more secure retirement for workers. "
Nominations are now a given, and they've allowed us to expand the award to
recognize a wide range of plan sizes and types-as well as introduced us to many
plans and plan sponsors I've so enjoyed getting to know. But I think we have to be
honest that the types of elements we look for to contribute to a more secure retirement
have also changed.
As I was thinking about this column, I looked back at nomination forms from
a decade or so ago that emphasized " strong investment performance, rigorous
corporate governance and an enduring commitment to participant education. "
That seems a bit rudimentary. Well-performing investments are expected.
Good corporate governance, I'd argue, is table stakes. We expect plan sponsors and
committees to be confident in their fiduciary responsibilities and take the proper
steps to manage them, even hiring support where necessary. As far as the commitment
to participant education, in my eyes, that has developed into financial wellness
programs and individualized participant advice.
In 2021, I think we'll look for progressive plan sponsors that embrace maximizing
this employer benefit for employees, within their company's abilities. As
I've spoken to providers, advisers, researchers and others this year, even before
the pandemic hit, one topic kept coming up: financial security-workplace
savings plans can't just be about having money at retirement age. People can't, or
shouldn't, save in a retirement plan if they aren't financially secure and will be
tapping it through loans or hardship withdrawals. In fact, as we asked this year's
award winners about what life has been like since the spring (see " Winning Ways
in the Pandemic, " page 48), we found they stress supporting their participants
through added benefit offerings such as student loan and health care programs
and emergency savings options.
A more secure retirement begins with financial stability that allows employees
to plan for their future. Our awards program will consider plan sponsors that make
a consistent and thoughtful commitment to workers and their retirement security,
and all of the components that go into that. We look forward to hearing your stories.
-Alison Cooke Mintzer, Publisher, PLANSPONSOR
2 PLANSPONSOR.COM August - September 2020
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PLANSPONSOR - August/September 2020

Table of Contents for the Digital Edition of PLANSPONSOR - August/September 2020

2020 Plan Sponsor of the Year Winners
New Support for HR Teams
Social Security Demystified
An Unstable Time for Funding
Rethinking Fixed Income
Winning Ways in the Pandemic
PLANSPONSOR - August/September 2020 - Cover1
PLANSPONSOR - August/September 2020 - Cover2
PLANSPONSOR - August/September 2020 - 1
PLANSPONSOR - August/September 2020 - 2
PLANSPONSOR - August/September 2020 - 3
PLANSPONSOR - August/September 2020 - 4
PLANSPONSOR - August/September 2020 - 5
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PLANSPONSOR - August/September 2020 - 14
PLANSPONSOR - August/September 2020 - 15
PLANSPONSOR - August/September 2020 - 2020 Plan Sponsor of the Year Winners
PLANSPONSOR - August/September 2020 - 17
PLANSPONSOR - August/September 2020 - 18
PLANSPONSOR - August/September 2020 - 19
PLANSPONSOR - August/September 2020 - 20
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PLANSPONSOR - August/September 2020 - 28
PLANSPONSOR - August/September 2020 - 29
PLANSPONSOR - August/September 2020 - 30
PLANSPONSOR - August/September 2020 - 31
PLANSPONSOR - August/September 2020 - 32
PLANSPONSOR - August/September 2020 - 33
PLANSPONSOR - August/September 2020 - 34
PLANSPONSOR - August/September 2020 - 35
PLANSPONSOR - August/September 2020 - New Support for HR Teams
PLANSPONSOR - August/September 2020 - 37
PLANSPONSOR - August/September 2020 - Social Security Demystified
PLANSPONSOR - August/September 2020 - 39
PLANSPONSOR - August/September 2020 - An Unstable Time for Funding
PLANSPONSOR - August/September 2020 - 41
PLANSPONSOR - August/September 2020 - Rethinking Fixed Income
PLANSPONSOR - August/September 2020 - 43
PLANSPONSOR - August/September 2020 - 44
PLANSPONSOR - August/September 2020 - 45
PLANSPONSOR - August/September 2020 - 46
PLANSPONSOR - August/September 2020 - 47
PLANSPONSOR - August/September 2020 - Winning Ways in the Pandemic
PLANSPONSOR - August/September 2020 - Cover3
PLANSPONSOR - August/September 2020 - Cover4
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