Communicating with Participants

Best Practices Explained

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Today we will be discussing the importance of understanding and addressing different communication preferences in retirement plan administration.

Different generations in your organization may favor different communication styles. For instance, the Baby Boomer generation often leans towards physical mail, while younger generations usually favor email or text messages. Some employees engage better via social media. Recognizing these divergent communication preferences will enhance overall plan communication and align with the Department of Labor's expectations on notice dispatch to all participants.

To optimize reach and encourage plan participation, consider devising a strategy that accommodates these different communication methods, or at least ensures information accessibility through all these platforms.

Multiple notice distribution channels demonstrate the plan's commitment to reaching all participants with necessary notices. The best practices released by the Department of Labor in twenty-twenty-one places the responsibility on the plan sponsor to send required notices and confirm their receipt, to prevent participants from missing vital asset-related information. By distributing information through diverse channels and recording these efforts, you reduce the risk of communication mishaps and enhance the probability of notice receipt by participants.

For more information on communicating with participants, contact us today.

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