Sneak peek of Compensation Week: 7 best practices for retirement plans

by. Lisa Hochgraf

As an editor, I often check out upcoming CUES content to help plan what I’ll try to bring to my readers. As I took a sneak peek at the free webinar presentations planned for CUES’ ‘Compensation Week’ April 14-17 (that’s next Monday through Thursday), I got pretty excited.

For example, on Wednesday (April 16), Scott D. Knapp, CFA, director of investment strategy for CUES Supplier member and strategc provider CUNA Mutual Group, Madison, Wis., will elaborate on these “7 Best Practices for Retirement Plans”:

  1. Frequent plan design reviews (he’ll tell us best practices for review timing)
  2. Use of defaults (such as automatic enrollment and automatic deferral)
  3. Personalized guidance for each employee
  4. Target “date” fund (This is the idea of having a good asset mix in the plan, but attend to get more details!)
  5. Plan for annuitization (converting accumulated assets into an income stream at retirement)
  6. Measuring results (e.g., participation rate, deferral rate)
  7. Keeping a clean fiduciary house (including having proper governance processes and an investment policy statement)
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