RSG believes that one of the best ways to ensure a successful plan is to formulate and initiate a successful communication strategy. Good plan outcomes depend on communication to ensure that every employee knows how the company sponsored retirement plan is providing for their future.
Employees need to understand the plan’s basic provisions. The primary reason employees elect not to participate in a retirement plan is that they don’t have enough information to make an intelligent decision. RSG’s communication tactics will ensure that every employee is given the opportunity to be fully informed; anyone who says “no” to the program won’t be basing that decision on lack of information or a misunderstanding of the plan’s benefits. To achieve this goal, RSG will:
- Create announcement letters introducing the plan and emphasizing its benefits.
- Conduct employee group meetings to review plan provisions.
- A video or visual presentation that explains the highlights of the plan is available upon request.
- Conduct employee enrollment meetings that will include completion of the application for plan participation, election of the amount of contributions and designation of a beneficiary when appropriate.
- Conduct follow-up meetings for those employees who did not initially enroll but have subsequently decided to participate.