Employee Benefits/Pension Plan Sponsors Archives

Counter the Great Resignation with Competitive Benefits

October 5, 2021October 5, 2021Cliff Cadle

The Great Resignation has arrived. If you’ve never heard this term before, it refers to the mass exodus of employees that’s been happening in the workforce since the beginning of this year. Data from the U.S. Department of Labor report that April, May, and June of 2021 saw a massive 11.5 million workers leave their jobs—and the momentum hasn’t stopped. Microsoft discovered that 41% of surveyed workers are thinking about quitting, and according to research from Monster, 95% of employees are looking to make a transition. The COVID-19 pandemic served as a major catalyst for the trend. Pandemic-related business restrictions drove one of the most significant recessions in United States history, resulting initially in business closures and layoffs, and now, employers struggling to fill their open positions. So what are employers to make of all this? While the situation may look bleak, it isn’t hopeless. There are many ways you...

Strategies to Boost Employee Retirement Plan Participation

September 17, 2021September 17, 2021Cliff Cadle

You’ve worked hard to design a great retirement program for the employees at your company. Now what? Aside from the initial program set up, one of the biggest challenges business owners report facing is encouraging their employees to participate. In this version of The Segrust Group’s Cliff Notes video series, we discuss five strategies to boost employee retirement plan participation. These five strategies include: 1. Auto-enrollment 2. Contribution matching 3. Eliminating waiting periods 4. Education 5. Strong plan design Cliff Cadle, Founder of The Segrust Group, explains how each of these strategies can be used to encourage more employee participation in your retirement plan because a robust plan provides multiple benefits to your business and to your employees. For questions or more information, contact us at 866-966-9724....

Using A Specialist Advisor Benefits Plan Sponsors in Many Ways

May 23, 2014March 19, 2021Cliff Cadle

Enhanced participant retirement readiness is only one of many benefits plan sponsors gain from hiring a Professional Retirement Plan Advisor. Over 95% of plan sponsors who partner with an Advisor entirely dedicated to the retirement plans business report that partnering with a Professional Retirement Plan Advisor is either “very beneficial” or “a necessity.” Advisors who work exclusively with retirement plans surpass their counterparts in the percent of clients receiving core services* such as: Assisting with the implementation of the fiduciary process Reviewing investment options periodically Making plan design recommendations Meeting participants in groups to provide retirement plan education Supporting with service provider due diligence The majority of plan sponsors who retain a Professional Retirement Plan Advisor also rely on their Advisor to provide services such as: Meeting with employees one-on-one to provide retirement plan guidance Examining plan compliance with applicable laws, regulations, and stated polices...

Retirement Advisor Council: The Retirement Plan Sponsor

March 31, 2014March 19, 2021Cliff Cadle

Retirement Plan Sponsor Series: Partner with a Professional Retirement Plan Advisor and Achieve Higher Participant Retirement Readiness Scores A fundamental research study of 400 employers that sponsor a 401(k) or 403(b) plan found that sponsors who partner with a Professional Retirement Plan Advisor enjoy superior outcomes in many areas. In particular, partnering with a Professional Retirement Plan Advisor entirely dedicated to retirement plans helps plan sponsors enhance the retirement readiness of employees. Professional Advisors Enhance Participant Retirement Outcomes Enhancing the retirement preparedness of plan participants is a primary objective of many plan sponsors. Increasingly, sponsors look to their Advisor and service provider to keep participants apprised of personal progress toward achieving retirement readiness. The study provides evidence partnering with an Advisor entirely dedicated to retirement plans may confer plan sponsors an edge: The vast majority of participants in plans that partner with such an Advisor receive an indicator of their personal retirement readiness. Going one step further, most sponsors partnering with an Advisor entirely...