Employees are frequently unaware of the scope of their company-provided benefits and of how theirs compare to other companies' benefit plans, according to a study, "Rethinking Defined Contribution Communication and Education."
The report from the Defined Contribution Institutional Investment Association found that, as a result, there is a missed opportunity for both the participant and plan sponsor, "potentially yielding a lower return on the employer's investment in its benefit programs and an un(der)realized benefit in the retirement accounts of its employee participants."
The DCIIA Plan Sponsor Survey 2012 showed that while increasing participant savings rates is the first or second top priority for nearly half of the plan sponsors, improving communication and education efforts is the next highest priority for one-third of the participating plan sponsors.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
