Listen & Learn, rolled out in November 2002, will now be adding new tools to its publications and resources to help employees better plan for retirement. According to a news release, all of these enhancements, coupled with a fiduciary education training program launched in March, are designed to help plan sponsors manage their retirement plans with more information and better preparation. The enhancements include:
- pension-orientation sessions that help pension committees understand their responsibilities and explain how a plan converts from one provider to another
- training on NYLIM’s retirement plan system
- plan event guides that discuss relevant topics such as total retirement plan design and how to avoid Internal Revenue Service (IRS) plan audits
- a training program to educate plan sponsors about how mergers and acquisitions can impact their retirement plans.
Listen & Learn is based on input from plan sponsors and participants and is designed to meet custom and specific needs. Included in this, plan sponsors will be able to choose between three different themes for their enrollment kits:
- Planning Life’s Longest Vacation – features aspirational messages regarding life in retirement
- Live the Dream – uses a bold theme for companies with a more contemporary culture
- Q&A – question and answer approach to saving and investing
Also, the program offers participant educational materials for their specific life stage: 21 to 35 years old, 36 to 50 years old, and over 50. For plan sponsors designing their own educational kits, a generic version is also available.