Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Director of Regulatory Affairs

Health Plans Inc
(Westborough MA)

Health Plans Inc logo

Retirement Plan Administrator

Steidle Pension Solutions, LLC
(Lebanon NJ)

Steidle Pension Solutions, LLC logo

Retirement Plan Consultant

DWC - The 401(k) Experts
(Telecommute)

DWC - The 401(k) Experts logo

Retirement Plan Administrator

SPS
(Telecommute)

SPS logo

Defined Contribution Plan Administrator

MGKS
(Phoenix AZ)

MGKS logo

Senior Plan Consultant

Jocelyn Pension Consulting
(Telecommute / San Rafael CA / Boulder CO)

Jocelyn Pension Consulting logo

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

By Date   |   By Company Name


View More Press Releases by Alliance Benefit Group

Press release:

Plan Sponsor of the Year - Winners for 2018

Issued by: Alliance Benefit Group

Date: Dec. 18, 2018

December 17, 2018, Peoria, IL - Alliance Benefit Group (ABG) is pleased to announce the winners of its 2018 Plan Sponsor of the Year awards. ABG created this program in 2017 with an emphasis on raising awareness of employers focusing on employee retirement readiness and how they can make a real difference in participant outcomes.

ABG's president, Don Mackanos, said "This year we had so many great plan sponsor stories, we created three categories of winners. One for best plan design, one for best education program, and one overall winner. By recognizing three categories, we feel the messages are stronger for other employers to adopt many of these best practices."

Here are the winners for 2018:

  • Overall winner: Seattle Indian Health Board nominated by Spectrum Pension Consultants (Spectrum). The Seattle Indian Health Board (SIHB) is a community health care and services targeting the urban American Indian and Alaska Native population in the greater Seattle/King County area. SIHB engaged Spectrum to identify and recommend plan design options to enhance its workplace retirement offering, with a key focus on retirement outcomes. Notable retirement plan enhancements included adoption of automatic design features, adoption of a safe harbor match, implementing on-site plan education services, and offering participant one-on-one meetings with advisors. In addition, the plan's fiduciary advisor established ongoing meetings with the retirement plan governance committee. The outcomes have proven significant. Participation rates rose from 40.5% to 93.8%; average participant elective deferrals rose by nearly 90%; average employer contributions increased by almost a factor of 4x.
  • Winner best plan design: Leader Dogs for the Blind nominated by ABG of Michigan. Consistency over several years was the key to modifying behavior. Significant efforts were made to help employees reach their financial goals through increased deferral rates and plan participation. Buy-in from the board level on down was a critical component to success.
  • Winner best participant education: Reid Hospital nominated by Nyhart. Our financial wellness solution, Votaire, was a key component to helping employees. Also providing annual, on-site education explaining plan provisions and retirement readiness helped to increase overall participation and savings rates.
Winners will receive a beautiful crystal award for display in their offices, plus a digital stamp signifying the award for use on their website and other places.

For additional information on Alliance Benefit Group go to www.abgnational.com or contact Don Mackanos at don.mackanos@abgnational.com.

About Alliance Benefit Group
Alliance Benefit Group LLC (ABG), is a national organization of retirement plan, health and welfare consulting and benefit administration firms. Founded in 1991, ABG's unique structure allows its Members to maintain their independence and autonomy, yet provide all Members access to broader service offerings, sharing of best practices, and collaborative technical support. This collaboration has allowed its Members to grow more rapidly than industry counterparts, to where today ABG services 20,000 retirement plans and in excess of $70 Billion in assets. ABG's emphasis on high service standards and continuing education designations help its Members to be regularly recognized with industry awards and accolades.

BL:hh

View More Press Releases by Alliance Benefit Group


This is a press release issued by the company named above. BenefitsLink is not the author. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

© 2020 BenefitsLink.com, Inc.