PLANSPONSOR - May - June 2023 - 15

Call
How to utilize current providers, or add
third-party players, when rethinking plan services
or 401(k) plans, there are a number of new bells and whistles designed to address the total
financial needs of a plan participant beyond just saving for retirement. Financial wellness programs,
financial advice and retirement income solutions have all emerged as tools that can be
added to plans in answer to participant demand.
Many plan sponsors have taken steps to embrace these tools with the aim of increasing plan participation
and engagement. In some cases, sources say, the tools can also help with attracting and
retaining talent if the total plan is more comprehensive than those of industry peers.
A recent research note from Morgan Stanley at Work, a benefits research group within financial advisory
firm Morgan Stanley, shows that how these new benefits are designed has a significant impact
on engagement and participation. Nearly half, 44% , of plan sponsors that Morgan Stanley surveyed
said financial education offerings should be tailored to participant demographics to prompt more
engagement. A further 36% said offering financial education that addresses specific life events is
also important. Of the plan sponsors that reported full employee participation in their plans, 80%
had a financial adviser .
Plan sponsors that have yet to adopt these additional benefits, may discover, when they do so, a variety
of new, valuable insights about their plans as well as their providers, plan consultants say.
F
Art by Wenting Li
PLANSPONSOR.COM May - June 2023 15
l

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PLANSPONSOR - May - June 2023

Table of Contents for the Digital Edition of PLANSPONSOR - May - June 2023

INSIGHTS
PARTICIPANT ANALYSIS
RULES & REGULATIONS
UPFRONT
Role Call
A New Breed Of TDFs
2023 Plan Sponsor Of The Year Finalists
2023 HSA Conference
A Personalized Approach
The New Wave
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - May - June 2023 - Cover1
PLANSPONSOR - May - June 2023 - Cover2
PLANSPONSOR - May - June 2023 - 1
PLANSPONSOR - May - June 2023 - INSIGHTS
PLANSPONSOR - May - June 2023 - 3
PLANSPONSOR - May - June 2023 - PARTICIPANT ANALYSIS
PLANSPONSOR - May - June 2023 - 5
PLANSPONSOR - May - June 2023 - RULES & REGULATIONS
PLANSPONSOR - May - June 2023 - 7
PLANSPONSOR - May - June 2023 - UPFRONT
PLANSPONSOR - May - June 2023 - 9
PLANSPONSOR - May - June 2023 - 10
PLANSPONSOR - May - June 2023 - 11
PLANSPONSOR - May - June 2023 - 12
PLANSPONSOR - May - June 2023 - 13
PLANSPONSOR - May - June 2023 - Role Call
PLANSPONSOR - May - June 2023 - 15
PLANSPONSOR - May - June 2023 - 16
PLANSPONSOR - May - June 2023 - 17
PLANSPONSOR - May - June 2023 - A New Breed Of TDFs
PLANSPONSOR - May - June 2023 - 19
PLANSPONSOR - May - June 2023 - 20
PLANSPONSOR - May - June 2023 - 21
PLANSPONSOR - May - June 2023 - 2023 Plan Sponsor Of The Year Finalists
PLANSPONSOR - May - June 2023 - 23
PLANSPONSOR - May - June 2023 - 24
PLANSPONSOR - May - June 2023 - 25
PLANSPONSOR - May - June 2023 - 26
PLANSPONSOR - May - June 2023 - 27
PLANSPONSOR - May - June 2023 - 28
PLANSPONSOR - May - June 2023 - 29
PLANSPONSOR - May - June 2023 - 30
PLANSPONSOR - May - June 2023 - 2023 HSA Conference
PLANSPONSOR - May - June 2023 - 32
PLANSPONSOR - May - June 2023 - 33
PLANSPONSOR - May - June 2023 - A Personalized Approach
PLANSPONSOR - May - June 2023 - 35
PLANSPONSOR - May - June 2023 - The New Wave
PLANSPONSOR - May - June 2023 - 37
PLANSPONSOR - May - June 2023 - FIDUCIARY FORUM
PLANSPONSOR - May - June 2023 - INSIDE ANGLE
PLANSPONSOR - May - June 2023 - PLAN PROFILE
PLANSPONSOR - May - June 2023 - Cover3
PLANSPONSOR - May - June 2023 - Cover4
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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
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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
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