1. Draft an Education Policy Statement 1. Draft an Education Policy Statement

It’s as important as an investment policy statement and should clearly state the objectives of participant education and include ways to measure progress toward those objectives.

2. Create a written plan 2. Create a written plan

The plan should tie in to the education policy statement by outlining all of the tactics used. These could include educational meetings, the messages to be delivered, who performs the various functions and a plan to review results.

3. Clearly define objectives – in the policy statement as well as the written plan 3. Clearly define objectives – in the policy statement as well as the written plan

Reasonable objectives should go beyond simple plan participation and designed to help ensure that all participants have adequate savings at retirement.

4. Hold both group and individual meetings 4. Hold both group and individual meetings

They are an effective way to communicate with participants, especially with tax-exempt employers. Individual meetings can supplement general information given at group meetings, yet tailored to the specific needs of each participant.

5. Determine what you want to tell participants 5. Determine what you want to tell participants

You may have a particular message you want participants to hear – like how they receive a valuable benefit that’s paid for by the organization. Or you want to increase participant awareness about retirement readiness. Make sure the education communication is delivered consistently, without different or conflicting messages mixed in.

6. Provide tools participants can easily use to help them achieve their goal 6. Provide tools participants can easily use to help them achieve their goal

Retirement and financial calculators are good, but additional tools that allow participants to work toward and track progress toward objectives are better.

7. Review the quality and credentials of individuals providing the education 7. Review the quality and credentials of individuals providing the education

This can be an area in particular where you get what you pay for.

8. Monitor progress against the plan and make adjustments when necessary 8. Monitor progress against the plan and make adjustments when necessary

While no plan is perfect, a quality education plan will take into account what is learned from experience, as well as shifting demographics in the plan.


8 ways to improve your retirement participant education plan

While your retirement education plan might look good on paper, it could likely use a little work in order to hit the right notes with employees. Aaron Friedman, national practice leader at The Principal Financial Group, provides best practices to create an engaging approach.

1. Draft an Education Policy Statement

It’s as important as an investment policy statement and should clearly state the objectives of participant education and include ways to measure progress toward those objectives.





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