April 22, 2022 –
Seven Transamerica clients honored for best practices in providing retirement plan communications
Transamerica, in collaboration with their retirement plan sponsor clients, has been recognized for achieving industry best practices in 2022 by winning seven industry awards from Pensions & Investments (P&I), Eddy Awards. The P&I Eddy Awards were created over 25 years ago to identify and reward the best practices in providing investment education to defined contribution plan participants.
ProHealth Care - 1st Place: COVID-19 Communications (Corporate)
ProHealth Care, a large local healthcare system, joined forces with Transamerica to develop a campaign to remind employees of the importance of self-care and engage with their retirement plan to prepare for the future. The campaign used the term PPE (personal protective equipment) in a new creative way to encourage healthcare workers during the pandemic to keep their focus on their retirement future in an engaging and positive way.
Piedmont Augusta (formerly University Health Care System) - 1st Place: COVID-19 Communications (Not-for-Profit/Other)
University Health Care System, one of the largest, most comprehensive healthcare providers in Georgia and South Carolina, wanted to encourage and thank employees by emphasizing the importance of taking care of their future. They accomplished this by working with Transamerica to develop an email campaign to share positivity and appreciation. It further reminded employees of the importance of engaging with their retirement plans and incentivized them to schedule a meeting with their retirement planning consultant. The email also directed them to Transamerica’s “Monitoring the Markets” web page to address anxiety over market volatility during the pandemic.
2nd Place: Plan Conversions
For one of the world’s most iconic and respected global brands, Transamerica and the company worked together to develop a multi-media education campaign targeted toward highly compensated employees. The campaign’s goals were to communicate the transition of three deferred compensation plans from another provider to Transamerica and encourage those eligible to make 2021 plan elections to make them within the transition period. With access to their deferred compensation plan and 401(k) plan in one place, the company’s employees are in a better position to prepare for a more secure retirement.
Danone North America - 2nd Place: Special Projects, Corporate Category – 5,000+ Employees (tie)
For Danone North America, a leading multi-local food and beverage company, Transamerica collaborated to develop a campaign directed to employees who received a true-up contribution. The communication was initially to explain an additional company match due to contributions made by employees unevenly throughout the year. In addition, the campaign took advantage of the opportunity to remind employees of the importance of beneficiary designation, so designation instructions were included in the campaign. The campaign proved successful and caused many to take positive action and update their beneficiaries.
Medical College of Wisconsin - 2nd Place: COVID-19 Communications (Not-for-Profit/Other)
For the Medical College of Wisconsin, one of the country’s largest private medical schools, Transamerica supported the development of a multi-topic email encouraging employees to care for themselves and their future as they worked selflessly to care for others. In addition, employees were encouraged to explore all that their retirement plan offers as they think of themselves in challenging situations. The email campaign consisted of information on account security, beneficiary designation, and Roth contributions. Results were positive, with significant numbers of employees registering for educational webinars and taking a variety of positive actions to better prepare for the future, including making one-on-one appointments with a retirement planning consultant (RPC).
Northern Arizona Healthcare - 2nd Place: COVID-19 Communications (Corporate)
For Northern Arizona Healthcare, a non-profit healthcare system in northern Arizona, Transamerica contributed to their virtual benefits fair. Employees could navigate around the virtual fair grounds, visiting tents that held engaging and informative materials on each benefit category. In the Transamerica retirement planning tent, colorful graphics and prominent signage encouraged employees to visit and explore the materials inside, which varied in format to appeal to different learning styles. Employees could choose from written brochures and flyers, video presentations, and even an interactive quiz.
Prime Healthcare - 3rd Place: Special Projects, Corporate Category – 5,000+ Employees
For Prime Healthcare, one of the nation’s leading health systems, Transamerica supported a campaign to modernize participant communications. The goal was to reduce the number of participant mailings, and substantial mailing costs, by encouraging e-delivery of plan communications. With employees working varied shifts across 14 states, 45 hospitals, and more than 300 clinics, it was imperative to find the right way to reach each individual. The campaign used a variety of communication types, including a statement message, newsletter content, postcards, and an intranet banner. By the end of the campaign, there was a significant increase in the adoption of e-materials.