Tomorrow is 401(k) Day! PSCA releases ready-to-go campaign for employers, plan sponsors
The Plan Sponsor Council of America has launched a handy and customizable “Building Your Financial Future” educational campaign to help employers and plan sponsors recognize 401(k) Day tomorrow, September 6.
Created by the Plan Sponsor Council of America, 401(k) Day signifies a fresh start to financial planning, much like how the back-to-school season symbolized new beginnings. The day promotes awareness about retirement savings and encourages employees to take full advantage of their 401(k) or 403(b) plan benefits.
What is the most important message employers need to get across to employees on 401(k)? “Planning for retirement can be daunting, especially with competing financial pressures – take small steps where ever you can, beginning with participating in the plan, even with small amounts, and it will pay off down the road,” said Will Hansen, executive director of PSCA.
Each year, the PSCA releases a free educational campaign – complete with a flyer, banner, power point presentation, graphic and key messaging – to employers to help them educate employees about the benefits of participating in plans, both on 401(k) Day and throughout the year. To help employers customize their campaign:
- The flyer can be branded with a company logo and plan information
- The PowerPoint can be customized with company logo and provides quick informational nuggets addressing common participant questions and concerns
- The email banners and ads are available in various sizes
This year’s PSCA’s educational campaign theme – “Building Your Financial Future: Start Today, Retire Tomorrow” – focuses on building your financial future one step at a time, starting with participating in the plan and taking full advantage of a company’s 401(k) match.
How can employers convince younger employees to participate in a 401(k) plan? “It’s important to meet them where they are at – which is not with paper forms – take advantage of technology to make enrollment as easy as possible,” said Hansen. “Demonstrating the impact of the match and compounding over time simply and visually can help demonstrate the value of saving early.”
Related: Take your company retirement plan to the next level this 401(k) Day
To launch a quick campaign, PSCA recommends initially sending out emails with campaign details, distributing posters and flyers in common areas and promoting workshops, Q&A sessions and social media engagement prior to event. September 6 too soon? Choose another day that works in September, however, it is important to follow up 2-4 weeks later, recommends PSCA, by sending follow-up emails with additional resources and collecting feedback through surveys.
“Education is the first step for success as workers plan for their retirement. PSCA is grateful to the hard work of its Education and Communication committee members, who volunteered their time and expertise to provide this free campaign to plan sponsors,” said Hansen. “This campaign can be used anytime throughout the year to encourage employees to save for retirement, either as a standalone campaign or in conjunction with open enrollment or other existing educational efforts.”