401(a) plans, with their mandatory participant contributions, often seek a streamlined participant experience and retirement income that lasts a lifetime.
- Chief human resources officer (CHRO) at a large trade union
- 4,000 members
- 401(a) plan
What he thinks about as CHRO
- Offering his employees quality investments
- Choosing a Qualified Default Investment Alternative (QDIA) from a slate of options
- Streamlining enrollment, making it easy for participants to take action
- Treating all employees equally
- Keeping his members happy up to and through retirement
- Providing guaranteed retirement income
Questions to uncover the opportunity
- What are your pain points with your current plan?
- Are you satisfied with investment options in your current plan?
- Are you receiving the guarantees you feel are appropriate?
A range of risk-controlled options
From in-plan guarantees to YourPath® target date + risk portfolios, we have the products you need to compete in the union market.
Consider group 401(k) solutions
Your trade organization clients may not be aware of the service they can offer small-business owners by sponsoring a multiple employer plan (MEP) or a multiple employer aggregation program (MEAP).