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Understanding & Avoiding Plan Failure Risk

Use our Prioritizer to identify a primary objective

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Health & Wealth Have Converged

Health and retirement benefits represent a significant business cost. Up to this point, each has been addressed separately. This approach has failed, and has led to reactive decision-making. The result for many employers is that all objectives are pursued, but none are achieved – we call this plan failure risk.

The Past
Siloed
Reactive
Cost-Based
Driven By External Events
The Future
Holistic
Strategic
Value-Based
Objectives Driven

Managing Plan Failure Risk

Plan failure risk is the risk that both the plan sponsor and participants will fail to meet their retirement objectives. We believe the key to managing this risk is a coordinated benefits strategy. Prioritizing a primary objective is the first step. Plan sponsors need to consider the following questions:

Why they offer a benefits program

What they are able to spend on it

What they hope to accomplish

Use our Prioritizer to determine a strategic action plan

Take Control

Prioritize

Identify a primary objective and determine a strategic action plan

Take Control

Strategize

Use our Prioritizer to identify a primary objective
and discover actions that can be taken today

Start Saving

Offer a High Deductible Health Plan and a Health Savings Account

Start Saving

Stretch company match to maximize employee’s 401(k) contributions

Neutralize Cost

Introduce a wellness and disease management program

Neutralize Cost

Implement targeted financial wellness and coaching tools

Maximize Savings

Provide a company contribution to Health Savings Accounts

Maximize Savings

Establish 401(k) auto enrollment, re-enrollment, and escalation features

Empower

Provide employee health planning and transparency tools

Empower

Provide employee retirement planning and coaching tools

Engage

Offer multiple health plan options and voluntary benefits

Engage

Establish 401(k) auto enrollment, re-enrollment, and escalation features

Improve

Implement a Defined Contribution health plan design

Improve

Offer employees an enhanced company match or profit sharing contribution

Increase Savings

Offer Health Savings Account investment options

Increase Savings

Implement cross-tested or safe harbor plan design

Offer Advice

Provide executive financial planning

Offer Advice

Provide executive financial planning

Retirement Options

Establish employer paid voluntary/ancillary benefits

Retirement Options

Implement a cash balance or combo plan