The Road Ahead for Plan Sponsors
As the coronavirus, economic downturn and market volatility wreaked havoc, many employers probably didn’t spend much time focusing on their retirement plan in early spring. Now, as businesses start to welcome more employees back to offices and plants after the immediate pandemic crisis begins to subside, plan sponsors will need the help of their recordkeepers and retirement plan advisers to get their plans and participants moving forward again.
To start regaining momentum, sponsors can perform several steps that examine multiple areas of plan management. Join PLANSPONSOR, industry experts and a plan sponsor to review what plan sponsors should evaluate once their operations start ramping up again, including:
- Reviewing current data to learn how participants’ financial health has fared;
- Examining how the plan’s target-date fund (TDF) family held up to market volatility and figuring out if it needs to be re-evaluated or if sponsors possibly need to make some hard decisions;
- Weighing a 2021 match reinstatement;
- Evaluating your financial wellness program; and
- Taking stock of the roles of your recordkeeper and adviser.