Recognized by Pensions & Investments for “best practices in providing investment education to participants”
March 20, 2017
And the winners are…
TIAA took home three awards in the “Retirement Preparation” category, which recognizes organizations for educating participants on steps they need to take for a financially secure retirement:
- 1st Place: Preparing for Retirement Digital Pages: This innovative, online guided experience includes educational content and a planning tool designed to help TIAA clients who are within a few years of retirement and/or beginning to think about making the transition to retirement. Clients complete a simple questionnaire that helps them begin to envision their retirement years and to start building a roadmap to realize their vision. In addition to thinking about things like where they’d live, what hobbies they’d pursue, how healthy they expect to be, the tool provides a financial snapshot that shows how their projected income aligns with their projected expenses and actions they can consider to enhance their situation.
- 1st Place: Stay Smart for Life: Stay Smart for Life offers timely, unbiased, engagement opportunities to TIAA participants who are nearing retirement (ages 60-70), or who have recently transitioned due to retirement or a job change. This multi-touch, omni-channel communication acknowledges the emotions of transition through a unique personalized experience. The goal of this program is to reduce administrative burdens and fiduciary risk by generating awareness, promoting engagement and providing a clear path of action to help create better financial outcomes for transitioning employees.
- 2nd Place: Financial Essentials Program: TIAA’s Financial Essentials Program offers institutional clients a series of 20 in-person and webinar workshops for their employees covering five key financial themes including spending, saving, planning, investing and living in retirement, plus additional specialty topics.
TIAA clients received honors across another three categories.
In the “Conversions/Consolidations” category, which recognizes campaigns devoted to explaining the plan changes:
- 1st Place: Washington University at St. Louis SRK Implementation: As a result of their comprehensive plan to support a move to TIAA as sole record keeper, Washington University at St. Louis experienced increased proactive participant actions including online engagement and participation in workshops and individual advice and education sessions.
- 2nd Place: West Virginia University Hospitals SRK Implementation: West Virginia University Hospitals completed a successful transition to TIAA as sole record keeper. As a result of their strong collaboration in communicating the changes, year-over-year employee engagement in the plan experienced a noticeable increase
- 3rd Place: University of Southern California Multi-Vendor Transition Guide: The University of Southern California partnered with TIAA to create streamlined communications surrounding their multi-vendor plan changes. This comprehensive guide helped facilitate a seamless transition experience.
In the “Ongoing Education” category, which recognizes the education of new and existing employees to the investment options of a new, modified or existing plan (entries must focus heavily on the investment process):
- 1st Place: Caltech: Enhanced Science of Benefits Workshop Series: In 2016, TIAA and Caltech expanded the offering of the Science of Benefits workshop series bringing in outside speakers (Social Security and Estate Planning). Employees had the option of attending the workshops in person or dial in and view the events from remote locations.
- 1st Place: St. Jude: 2015 Retirement Engagement Campaign: This campaign focused on better preparing employees for retirement by using engaging workshops and communications to highlight new tools and resources designed to increase retirement savings.
In the “Special Projects” category, which showcases special investment education and communication programs with simple entries rather than a full campaign:
- 1st Place: Caltech: Picture Your Financial Future: The campaign kicked off with a booth at Caltech’s annual benefits fairs where TIAA videotaped, interviewed and then illustrated more than 60 employees’ dreams and aspirations for retirement. The illustrations were sent home with the participants as a custom giveaway and then images and video footage were turned into a short video, print and email campaign highlighting the Caltech community’s dreams for the future as a way to encourage others to start thinking about their own.