Haselden Construction

NOMINATOR COMMENTS

I’ve had the privilege of working with Haselden for the past 15 years, and it has continuously exemplified how a company can prioritize its employees’ retirement security, creating a culture of financial literacy and empowerment. In my 25 years as an adviser, it’s the first organization I’ve worked with that schedules at least one meeting per year solely to discuss and refine its retirement program’s mission statement.

Historically, construction companies have struggled with retirement plan participation, often due to workforce dynamics and a limited focus on employee financial wellness. Haselden breaks the mold. By addressing barriers with such measures as language accessibility, on-site education and flexible delivery methods, along with using automatic plan features, it has created a program that ensures even field employees—often the most difficult to engage—are included. It also trains engaged field workers to be trusted sources of information and guidance for other workers who may be less comfortable with retirement plans.

Amanda Sparks, VP of Human Resources, Haselden Construction
Photograph by Matt Kalinowski

PLANSPONSOR: Please describe your company—what it does and what is interesting about its work or its history, or is unique about its demographics.

Haselden: Haselden is a family-owned construction firm with over 52 years of experience proudly building a legacy across Colorado and the Rocky Mountain region. Recognized as a Denver Post Top Workplace for 10 consecutive years, we foster a people-first culture that prioritizes employee growth, support and belonging. Our workforce spans four generations and is highly diverse, including many craft laborers who speak only Spanish. To ensure equitable access to information, we provide all materials in English and Spanish, use a texting platform vs. email and offer after-hours Spanish-language support calls—showing our commitment to meeting workers where they are.

PLANSPONSOR: What are you most proud of in relation to your retirement plan offering?

Haselden: We’re proud of the long-term commitment we’ve made to improving retirement readiness for our team. After over a decade of our focused effort, 63% of our employees now save 15% or more toward retirement—a milestone we’re proud of, with a goal of reaching 80%. We’ve built a strong foundation by focusing on the mechanics of the plan, and now we’re shifting focus to financial education and overall well-being to help our team members make the most of their financial planning for retirement.

PLANSPONSOR: Please cite any noteworthy initiatives you have taken in the past 24 to 36 months that have produced results to improve your plan, and describe the results.

Haselden: Over the past several years, we have increased plan participation to 98% from 55% and deferral rates to an average of nearly 11% from 3%. We have embraced automatic enrollment and automatic increase as the primary drivers of employee savings success. Our auto-increase feature raises participants’ contributions biannually, by 2%, until they reach a 10% saving rate. That is further complemented by a 5% profit-sharing contribution. This guarantees that most team members achieve a 15% saving rate each year. Currently, 68% of our workforce is at a total saving rate of at least 15%. Our goal is to achieve at least 80%. We’re now at the point where we conduct re-enrollment campaigns twice per year to ensure that employees consistently engage with the plan.

A significant improvement we made was to shift our focus primarily to education and our team members’ financial wellness. This effort and what we offer include:

• Comprehensive educational resources, in accessible formats. We provide webinars, workshops and one-on-one educational sessions, tailored to our team members’ life stage and generation. Educational resources are supplied “in person” at offices and job sites, with sessions available in Spanish and flexible scheduling to accommodate spouses. We also utilize emails, texts, prerecorded videos and micro-videos to ensure accessibility for all team members.
• Taco Tuesdays. The company’s leadership engages with field employees, where they are, to understand their questions and concerns, specifically those related to their benefit plans, especially their 401(k) account.
• Continuous engagement. From onboarding new hires to holding targeted beneficiary campaigns and retirement readiness workshops, we reinforce the importance of financial planning throughout team members’ careers.
• Holistic support. We’re working to have retirement education integrated into a comprehensive financial wellness strategy.

PLANSPONSOR: Please explain the ongoing governance efforts of those involved with the plan meant to ensure its compliance and effective operation.

Haselden: We have quarterly meetings with Fidelity and IMA Wealth, which cover: a review and benchmarking of fees (annually); training for 401(k) committee members; a review of fiduciary responsibilities (annually); and updates on governmental requirements such as the SECURE [Setting Every Community Up for Retirement Enhancement] 2.0 Act. We also stay up to date on compliance through audits and IRS guidelines.

PLANSPONSOR: What does winning Plan Sponsor of the Year mean to you and your employer?

Haselden: It reinforces that we’re doing right by our team. We’ve always prioritized our people—and this recognition confirms that our commitment extends beyond the job to their future and retirement. We’re not just building projects—we’re building long-term security for our team members.

This year, for our Plan Sponsor of the Year profiles, we are publishing Q&As based on the finalists’ applications and nominator comments. Responses are edited and may be paraphrased. In cases where the finalist self-nominated or, on its application, referred judges to the nomination for the answer, we have attributed those nominator answers to the plan sponsor.