Step Five – The Advanced Investor Series
 Developing an effective employee education program.
The Challenge
A retirement plan cannot be considered successful if employees do not understand the benefit being offered and do not participate in the plan.

Most employees do not fully understand the benefit provided to them in their company retirement plan. When it comes to educating participants, each location has a unique set of education and demographic needs that must be understood to make any program effective.

"If you don't provide education, you open yourself to liability, because you haven't provided sufficient support to participants who must make investment choices."

David L. Wray
President - Profit Sharing Council of America

One of the ways to limit potential liability is to set up your plan to give participants control of the investments in their accounts. For participants to have control, they must have sufficient information on the specifics of their investment options. If properly executed, this type of plan limits your liability for the investment decisions made by participants.

Whether you intend to meet ERISA Section 404(c) requirements or retain the liability for participant investment decisions, providing a quality education program is essential. ERISA has guidelines for certain communication that is required to be given to employees. Educating them on their plan features and benefits is equally as important.

The Solution
To help with meeting the challenges of developing an effective participant education program, The 401k Service Solution provides a method in Course Five - The Advanced Investor Series. This course helps plan sponsors understand exactly what is required communication from the direction of DOL and ERISA, what your company's unique education challenges are, and to poll participants to determine what they want and need to empower them to take control of their own retirement. In the end, this course provides you with a custom twelve-month education program based on the needs of the participants with a method for monitoring its effectiveness.