Need to secure your foundation, achieve greater prosperity and inspire confidence — in your business and with your employees? As the retirement landscape continues to evolve, defined contribution plans are increasingly becoming a major source of retirement income for many working Americans. And that means employers are challenged to continually improve plans, deliver better outcomes, and encourage greater participation.
Of ERISA investigations nationwide in 2017 resulted in corrective action1
By 2050 - The predicted long-term savings gap in U.S.2
Years of insights and experience Mercer has with defined contribution plans
Do these problems sound familiar?
So what if you could position your defined contribution plan to deliver more — more for your employees, and more for your organization through an enhanced design and delivery model that may improve your employees' retirement incomes and optimize your outcomes?
The governance of DC plans is complex and regulatory requirements have made plan oversight challenging. Employing best practices for holistic plan management can help. Well-run programs encompass ongoing monitoring that covers a broad spectrum of services, from advisory to fully delegated solutions and may include:
As a plan sponsor, you must address the needs of both the organization and your employees. An optimal plan design accomplishes both –—maximizing the employer spend to the benefit of the employees, particularly key segments of the workforce. This lens requires placing a priority on improving participant outcomes. Successful plan sponsors manage key levers that are within their influence to:
A financial wellness program can help you boost productivity and actually improve the physical health of your employees. We use data analytics to gain deep insights into employee behaviors and can help you develop a sustainable approach to financial wellness that improves financial outcomes for your employees. We encourage you to use our preferred financial wellness partners, and have a plan customized for your needs. With our Financial Wellness Index and Mercer’s Financial Courage Index, your company has the tools you need to assess your employees’ current state of financial wellness, as well as their Financial Courage. These tools will help you develop a financial wellness program within your organization for maximum positive impact.
Please See Important Notices For Further Information.
1 DOL Employee Benefits Security Administration Agency Enforcement Results. The Employee Benefits Security Administration is responsible for enforcing ERISA and ensuring the integrity of the private employee benefit plan system.
2 World Economic Forum.
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