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Employee Communication and Education​

Although retirement plans can be of very significant value to individual employees, most employees will not understand or appreciate the value without comprehensive communication and education. This is particularly true in the cases of younger employees, especially where employee contributions or deferrals are required as a condition of plan participation.

The fact that employees may make contributions to a plan on a pre-tax basis offers even relatively lower paid employees a substantial financial advantage. Experience shows that when employees understand these benefits, they are much more likely to participate and contribute at higher levels. Spectrum provides a complete range of generic and custom employee communication and education solutions to clients and their employees. These include:

Employee communication and/or education materials

  • design and preparation of plan booklets, including Summary Plan Descriptions;
  • design and preparation of audio-visual materials for employee presentations;
  • individual illustrations of the financial effect of differing levels of employee contribution or deferral;
  • individual projections of future account accumulations under varying scenarios as to contribution and investment return levels; and
  • individual Retirement Income Adequacy analyses, showing the levels of contribution needed to achieve a particular income replacement objective.

Employee Education Sessions

  • explanation of plan features, benefits and rules;
  • explanation of changes in plan provisions and features, made as a result of either employer decisions or changes in governing legislation or regulations; and
  • enrollment presentations for newly eligible employees, which may be conducted in cooperation with investment advisory personnel;

Individual Employee Meetings

  • one-on-one sessions with individual employees, at client’s request, to explain plan options and requirements;
  • one-on-one sessions with individuals or couples to explain distribution options on retirement, in cases of disability or termination of employment; and
  • one-on-one sessions, conducted by registered investment professionals, to assist individual employees with investment decisions. Please note that these sessions may be arranged by Spectrum but, as they involve specific investment advice, are not conducted by Spectrum staff members and any fees are billed directly by the investment professional.

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