Swinerton Incorporated

¹Combines features of a 401(k) and an employee stock ownership plan
²Employee stock ownership plan

Swinerton, a 100% employee-owned national construction company, has locations coast to coast. To engage this widespread workforce, especially nonunion craft employees, about its plan and financial wellness, the company developed an intranet app and webinar library, accessible 24/7. It adopted automatic enrollment in 2003 and now defaults workers into the plan at 6% of pay; automatic escalation can raise that, up to 20%. Employees also receive an employer match, discretionary profit-sharing contributions and an annual employee stock ownership allocation. All employer contributions vest immediately. To meet the needs of Swinerton’s Hispanic population, the recordkeeper provides communication and education materials in Spanish.

Lana Odabi Smith, national retirement program manager, Swinerton Incorporated.

To get to know them better, PLANSPONSOR sent the 2026 Plan Sponsor of the Year winners a list of questions from which to choose four to answer. Below are responses from Lana Smith of Swinerton.

PLANSPONSOR: What do you foresee as the most significant opportunity—or challenge—for plan sponsors in helping employees achieve long-term financial security?

Swinerton: If there is a projected 20% to 24% reduction in Social Security benefits between 2032 and 2033, this will create a meaningful headwind for retirement readiness and pose a significant challenge for plan sponsors. Because Social Security serves as a foundational source—not supplemental, as designed—of retirement income for many workers, any reduction would increase reliance on employer-sponsored plans to close the gap. This shift will elevate the role of plan sponsors in supporting long-term financial security, requiring a stronger focus on plan design, contribution adequacy and retirement income strategies to help employees compensate for reduced guaranteed benefits.

PLANSPONSOR: What aspect of your retirement plan offering are you most proud of?

Swinerton: We are especially proud of our employee stock ownership plan. It empowers employees to think and act like owners, understand how their contributions affect performance, and share in the value they help create. It also reinforces that our approach goes beyond benefits; it is about building a shared sense of purpose and accountability, while accumulating wealth for retirement.

PLANSPONSOR: What does winning Plan Sponsor of the Year mean to you and your employer? Will you publicize the win outside of the human resources/benefits team?

Swinerton: Being named Plan Sponsor of the Year is a tremendous honor for Swinerton and a reflection of our unwavering commitment to employee-owners and the long-term success of the company. This recognition validates the intentional effort we have made to design and deliver a retirement program that not only meets financial needs but also strengthens our culture of ownership.

This award also reflects the high standards we set for ourselves. We continuously strive for excellence whether through thoughtful plan governance, strong fiduciary practices, or clear and consistent communication that helps employees make informed decisions about their future.

Most importantly, this recognition celebrates our people. Our employee-owners are the driving force behind our success, and this recognition underscores our belief that when you invest in your people, they invest right back in the company.

We have publicized this great honor internally and on social media.

PLANSPONSOR: What is one piece of advice you would offer to other plan sponsors aiming to improve employee financial well-being or retirement readiness?

Swinerton: That would be to conduct a comprehensive employee retirement/benefits survey. Taking the time to gather direct feedback provides invaluable insight into what employees understand, where gaps exist and what matters most to them.

Survey results can help identify knowledge gaps, misconceptions and areas where employees may need additional guidance or support. With this information, plan sponsors can tailor education, communication and resources to better meet employees where they are rather than taking a one-size-fits-all approach.

A well-executed survey allows organizations to create more targeted and effective communications/programs that empower employees to make informed decisions, improve their financial well-being and feel more confident in their path toward retirement readiness.