We're
making it easier for advisors and plan sponsors to connect with participants.
One of the latest features within our Relius participant
website allows messages to be emailed using a set of rules to determine
recipients. These preset and pre-developed messages provide a low maintenance
communication method with a high touch feel.
Target retirement plan participants within a certain age range, deferring a certain amount/percent, terminated employees, those invested in particular funds, newly eligible employees or a variety of other scenarios.
·
Example: if
you set up a message to go out once a month to employees over 49 encouraging
them to utilize the catch up contribution ability when they turn 50, the system
will ping the participants that match your selections and deploy the custom
message
Possible variables used to create messages:
· Age;
(see example above)
· Account
balance; target balances < or > than a specified amount
· Contribution
amount or %; target rates < or > than specified amount
· Investments;
target by specified investment such as the default fund
· X number
of days prior to hardship suspension end to encourage them to complete a new
election form and resume deferrals
1. If you are a retirement plan sponsor, advisor or consultant and you're interested in taking advantage of
this tool, reach out to the
administration team with your request to see if we can build the set
of rules to meet your needs. We'll give you advice and help you set up the data
points.
2. Once you have the rules set up, compose your message and
send it to the administration team. Our team will carefully edit the message
and place it in the appropriately branded email template.
3. After we've confirmed the message is accurate and meets
your needs the system will begin applying the message to the scenario you've
set up. The system will flag an employee once they have received a message so
they do not get the same message again.
Message details:
· Subject:
200 character limit
· Message
content: 4000 character limit
· Frequency
(this can be setup to be sent one time or on a frequency of your
choice)
Are you ready to connect? If
you have any questions on this feature or other possible ways to utilize this
service, please do not hesitate to contact your dedicated administration team.
The Author: Tonia
Palmer
Account
Supervisor, QKA
tpalmer@abg-mn.com
Disclaimer: This blog is
of an informative and educational nature, and should not be considered legal,
financial or operational advice. Please contact the appropriate parties
for those services. Thank you.
