BCG Blog - Sponsors

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Document Retention Policies Post-Pandemic- Is it Time to Rethink Yours?

Is it time to revamp your company’s document retention policy? As always, discuss any change to information management and client records with your legal counsel. Here are a few things to consider asking your counsel, especially if you are continuing to work in a remote or hybrid work environment.

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The Three Questions Your Employees Have on HSA Investments

Few realize that HSA contributions can be invested for long-term gains. When teaching “HSA investment 101”, here are three questions sponsors will have to answer.

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Rock, Paper, Scissors: Considerations for Contemplating Adding New Plan Providers

As benefits continue to be a leading item in recruitment and retention of top candidates, plan sponsors may be considering changing their plan providers as well as their plan options. Here are a few thoughts on the pros and cons of adding plan providers, consolidating multiple plans and staying put.

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An Increase in Lawsuits against Sponsors May Call for Fresh Benchmarking Data

The Supreme Court’s recent case concerning plan fees has opened a pandora’s box of options for plaintiffs. Plan Sponsors may want to monitor recent developments and consider expanding their benchmarking plans.

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Workforce Changes To Monitor

Plan Sponsors may feel overwhelmed having kept up with what might have felt like large swings to their demographics in their workforce. Those who are eager to keep track of demographic changes in the overall investing habits of America may want to take note of several new studies and statistics that were released.

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DEI: Diversity, Equity, and….Investments?

401(K) matching only matters if you have money to invest. How do sponsors make sure no one is financially left behind?

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Educating GenZ

Recent studies have shown an uptick in interest in investing in alternative investments by Generation Z. GenZ are those who are roughly ages 10 to 25 in 2022. Plan Sponsors who worry that their GenZ employees may be forgoing 401(k)s for buying blitzes of bitcoin can rest a little easier. GenZ is investing in their 401(k)s, but that’s not all they’re betting on.

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Postal Service law and Plan Sponsors

Changes to the laws around the post office may have arrived right on time. Many plan sponsors struggled with using first class mail during the pandemic due to the overload on the Post Office. But not so fast, struggles may still be on extended delivery. Here’s a quick survey of what plan sponsors may want to consider around first-class mail and plan disclosures.

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Strategic planning approaches for plan sponsors

Changes to employee benefits may be a small part of an overall organizational strategic plan. It may seem odd, then, to consider strategic planning a benefits change. But a review of the different models of strategic planning may help plan sponsors consider how to structure the process of changing plan documents.

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Go Go Gadget Investing!

Persuading employees to engage with their benefits options is like finding Cinderella armed with just a shoe: it’s about finding the right fit. For new investors, those with low investment capital, and straightforward finances, robo-investment can be an excellent fit.

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Better Benefits Meetings: Why Virtual Might be the Right Answer

Turn “this could have been an email” into “this was a great meeting” by assessing the who, how and why of benefits meetings.

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Making Better Decisions: Informing Employees About Typical Decision-Making Shortfalls

25% of Gen Z employees and 23% of Millennials are planning on leaving their jobs in the next 6 months. In the midst of these large, life changing decisions, how can plan sponsors help their employees navigate smaller but no less important decisions, like planning for retirement?

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Name That Tune: Educating Employees about the Federal Reserve

While everyone may seem like they are singing the same sad tune about the Fed, there could be one key group left out of the chorus: your Employees. They need to know how the Fed impacts their savings and retirement plans.

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New Plan Designs: Expanding on Auto-Enrollment Features

If 87% of employers agree that auto-enrollment in a 401(k) plan has a favorable impact on employees’ retirement readiness, why not try other stumbling blocks for retirement readiness? Results from a retirement readiness survey seem to suggest that many plan sponsors are considering just that.

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Location, Location, Location

In the TV show of life, the hottest will they/won’t they is about remote vs. in-office work. What’s the best decision, and for whom?

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Buyer Beware!

It’s time to revisit spending—and budgeting. Especially given the financial fallout from the COVID-19 pandemic, more people are turning to “buy now pay later” loan programs which can be downright predatory.

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Employee Education for New Year: Goals, Goals, Goals

Following such an unpredictable few years, employees may be wondering if they can or should even set goals anymore. Plan Sponsors can help employees all year long by providing information about proper goal setting. Here are a few ideas.

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Cryptic Currency

What’s going on with Bitcoin ETFs, and what information should benefits advisors and plan sponsors have ready for when employees ask about their plan’s investment options for bitcoin?

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Keep It Intra-resting: Creating an Engaging HR Intranet Site

If an HR intranet page is difficult to use, employees are going to walk away frustrated, confused, and may not be able to access vitally important information. Here are five suggestions to improve user experiences.

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Employee Retention Best (and Worst!) Practices

“WE’RE HIRING!” signs are everywhere, but every sponsor worth their salt knows that retention is even more important than recruiting. So, what entices employees to stay?

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It’s the Economy, Genius.

Empowering employees to ask questions, raise concerns and become more educated can help those employees feel more confident in investing and saving for retirement. How to Address Employees’ Concerns About Changes to the Economy Through Education.

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Behavioral Science is a Plan Sponsor’s Best Friend

“One Neat Trick to Increase 401(k) Enrollment!” sounds like the subject line to an email scam, and it probably is. However, the only “BS” here is Behavioral Science, and it really can help.

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About Last Year: Plan Sponsors Can Harness the Why Behind the Rise in 401(k) Participation

Average 401(k) balances are up more than 20%. What’s behind those eye-catching numbers? Why are employees investing more? The answers can inform plan sponsors’ educational programs in 2022.

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How to Speak Sponsor

Communication strategies for sponsors trying to convey their duties, plans, and needs to other groups in the office less familiar with their roles.

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TV Land: What to Watch

What are your employees reading/watching that could help you convey retirement savings and investing information? Here are three wildly different picks that may resonate with employees.

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Authors

Beau Adams
Executive Vice President, BCG
John Correll
Client Relations Team Leader
Kevin Bonner
Regional Retirement Sales Director
Nina Wilkinson
Client Relations Manager
Robert Terry
Retirement Plan Sales Manager

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