State of Missouri Deferred Compensation Plan
Wins the 2021 Leadership Award
The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) awarded the State of Missouri Deferred Compensation Plan the 2021 Leadership Recognition Award for their automatic increase holiday savings campaign. The Leadership Awards recognize defined contribution plans for their outstanding achievements in participant education and communication.
From the NAGDCA Leadership Awards Booklet:
"The State of Missouri Deferred Compensation Plan and the plan's recordkeeper, MissionSquare Retirement (formerly ICMA-RC), created a holiday-themed savings campaign targeting state participants in the 457(b) plan. While the primary goal of the campaign was to increase savings within the MO Deferred Comp Plan through use and awareness of the automatic increase tool, the campaign also helped drive online engagement and self-service account management. Communications educated participants on the benefits of auto-increases, including the potential boost to account balances over time. As a result, 1.4% of targeted 457 participants chose to use the auto-increase tool and improved their retirement outlook, .6% of participants returned the postcard tear-off mailers, and 2.4% of participants logged in to their online account and selected to save with the automatic increase tool."
The State of Missouri Deferred Compensation Plan, a voluntary 457 defined contribution plan, is administered by the Missouri State Employees’ Retirement System (MOSERS). To learn more about the deferred compensation plan's award-winning educational efforts, connect with them on Facebook, Twitter, LinkedIn, Instagram, and YouTube.
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