| | 2015 Plan Sponsors of the Year | | Plan Sponsor of the Year Profile: Gillette Children’s Specialty Healthcare | | In April 2010, Gillette Children’s Specialty
Healthcare implemented automatic enrollment for its 403(b) plan, defaulting
participants at a deferral of 4% of salary. The company offered a match of up
to 2% and provided all employees with a discretionary contribution of 3.29%.
Still, something was missing. “As we reviewed our participation, deferral rates
and average account balances, we determined that the program didn’t encourage
employees to contribute to their retirement funds—something we believe is
necessary to saving enough for retirement,” says Kit Brady, vice president of
human resources (HR), education and guest experience at Gillette.Read more > | | Plan Sponsor of the Year Profile: Mary Washington Healthcare | | As an organization with a 115-year history,
nonprofit Mary Washington Healthcare in Fredericksburg, Virginia, has seen
employee benefit trends come and go since well before the creation of Social
Security. Its extended organizational history and scope mean there are some
challenges with the employee benefits delivery structure, says Kathy Wall,
executive vice president of human resources (HR) and organizational development
for Mary Washington. “Being a health system, we have many diverse types of
employees at different career stages and in different working environments, all
trying to get prepared for retirement,” she says. One result of that diverse
work force is a complex employer-sponsored retirement plan benefit.Read more > | | | Benefits & Administration | | Private employee stock ownership retirement
plans (here limited to S corporation ESOPs) outperformed the S&P 500 total
return index in terms of total return per participant by 62% from 2002 to 2012,
according to a study by Ernst & Young (EY). Research by EY’s quantitative
economics and statistics (QUEST) practice reveals the total return for an
average S corporation ESOP participant over the decade was $99,000, implying an
11.5% compound annual growth.Read more > |
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