Using the Internet for participant education

[Alan Simpson]

Am strongly considering using the Internet for education about a retirement plan, investment alternatives, and other plan information for a company with multiple locations throughout the state.

Am curious what your experiences ahve been with using the Internet as well as the type of software necessary to perform the functions listed above.

Your response is appreciated.

[Guest Michael Rankin]

Alan,

Hate to answer a question with more questions, but so many come to mind... Is this a new plan, or re-communicating an old plan? What % of employees have i-access? What is connectivity speed? What is the level of participation in the plan? What are your goals? (Cost reduction, increase participation, 404© compliance, etc.)

The answers to these and other questions will help you with implementation, monitoring, and measurement.

We are doing a number of internet enrollment/communication projects for various clients. Feel free to e-mail me for further discussion.

[Kirk Maldonado]

Check out www.BTABTA.com. They help companies do this.

P.S. I don't work for them, but I am vaguely familar with their product.

[Guest Vicki Dungan]

Alan --

There are lots of companies that can help with effective retirement/401(k) enrollment and communication -- online and othewise. Online communication is very effective for those who use the Internet, especially when you can provide access to the participants' personal $ information and to modeling capabilities. But be sure to have a strategy for those employees who are not cyber, too.

FYI: Research by Fidelity Investments with millions of plan participants indicates that the four things that make the most difference in participation and asset allocation are (1) face-to-face communication (2) information from the employer (3) opinions of friends and co-workers and (4) personal, relevant information.

Feel free to contact me if you have other questions.

------------------

Vicki L. Dungan, ABC

The Adobe Group LLC

Washington, DC

vicki.dungan@adobegroup.com

[This message has been edited by Vicki Dungan (edited 07-03-99).]