PLANSPONSOR - May - June 2023 - 34

PARTICIPANT EDUCATION
A Personalized Approach
L
Show participants the value of a range of financial benefits
Such a personalized approach is just
ast September, every Delta Air Lines
employee received a personal message
in the mail outlining the person's
retirement readiness. The snapshot
included an explanation of the model that
recordkeeper Fidelity Investments uses to
gauge the employee's progress. " The statements
displayed individuals' current balance
and what the target balance is for
their age, " says Josh Jessup, manager for
global retirement, financial well-being and
mobility at Delta, 2022 PLANSPONSOR
Plan Sponsor of the Year, Corporate
Defined Contribution, >$1 Billion. " If their
balance was below the target, the statement
gave suggestions to get closer to it; if above,
[it] made suggestions to continue or even
enhance their success. "
one component of an increasingly tailored
communication strategy that many companies
are adopting to encourage their
employees in retirement planning. Plan
sponsors and their advisers have new tools
and methods to identify a range of needs
among plan participants that might vary
by generation, retirement timing and even
personal financial goals.
Five years ago, all Delta employees
received identical messages about their
retirement plan accounts. But today,
Jessup, who works out of Atlanta, says
the company can address a range of
needs, companywide. " This is part of a
broader effort to make employees aware
of how ready for retirement they are
...-understanding that this is [their] first
step to begin to take action. We have much
more insight to send messaging that
relevant to the participants now. "
is
Make Far-Off Goals More 'Urgent'
Recognizing the variety of questions, goals
and needs that plan participants have is
a key part of engaging them, for Kelli B.
Send, co-founder and senior vice president
of participant services with Francis
Investment Counsel LLC. Send, based in
Milwaukee, says she sees employee groups'
interests divide depending on where they
fall in their " lifecycle. " People just getting
started are often interested in budgeting
and emergency funds. Those a bit older
are typically saving for multiple needs,
34 PLANSPONSOR.COM May - June 2023 Art by Ellen Weinstein

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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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