plan assets with fiduciary responsibilities that ensure the plans are managed

Plan assets with fiduciary responsibilities that

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plan assets with fiduciary responsibilities that ensure the plans are managed in the best interest of participants and beneficiaries (U.S. Department of Labor, 2019). Communication Strategy Employers are responsible to effectively communicate to employees any changes to the provided retirement plan because according to Terry, “ A good plan often starts with the end in mind. Know what changes are being made to the plan, the purpose for those changes and what actions participants will be asked to take (2012). Terry goes on to say that is important to “Begin by ensuring the organization’s leaders, HR and management are ready to assist in driving the message consistently" (2012). Once changes to the plan and the timing of its rollout have been approved by organizational leaders, the information has to be relayed to management and HR so they are prepared to address concerns and answer any questions the employees have (Terry 2012). Tools, Methods, and Timeline Employer’s should communicate the retirement benefit information monthly via email as a reminder that the retirement system exists, and they can access more information regarding these benefits via the company website. An email and direct mail should be sent out thirty days in advance regarding when face to face meetings will take place, so all current and former employees can decide to visit if necessary. A face to face meeting should be done every three
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  • Summer '17
  • john denny

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