Lack of employee engagement is one of the biggest contributing factors to the well-documented underperformance retirement plan participants experience.
The underperformance is significant. Morningstar’s “Mind The Gap Study” estimates the gap is 1.70% annually and Edelman Financial Engines’ review of more than 700,000 participant portfolios found that over 20 years, employees had 80% less in retirement assets. It’s no wonder that nearly two-thirds of workers report that preparing for retirement makes them feel stressed, according to the Employee Benefits Research Institute 2023 Retirement Confidence Survey.
Complicating matters for employers, the number of class action lawsuits continues to rise, year-to-year. 401(k) and 403(b) plan sponsors need to ensure they understand they type of help their employees need and make sure they have easy access to the resources they need.
We’ve developed a program that improves employee engagement by proactively reaching out to them, and giving them personalized calls to action.
Our process delivers the personalized help they need based on their life stage and documents the outreach and results, giving Retirement Committees thorough documentation of their proactive approach.
Our employee engagement strategy connects with employees proactively, giving them clear calls-to-action and personalized recommendations.
Improve engagement, employee satisfaction and enhance my fiduciary process
Empower employees to accumulate wealth, drive retirement readiness, and achieve their financial goals.
How much to contribute seems like a simple decision, but employees have questions about their overall financial picture.
We help with important questions like—Roth or pretax? Should I take advantage of 50+ catch-ups? What should I do if I have student or credit card debt?
Behavioral finance has proven the average employee struggles to select their investments due to a variety of psychological factors.
Worse yet, employees are expected to create a diversified portfolio with information they find confusing and that is filled with jargon. We help by simplifying their decision-making using easy-to-understand materials.
Retirement planning is deeply personal, and everyone's situation is unique. At Pinnacle Pension, we take a customized approach to help employees identify the right questions to ask and gather the information they need to create a plan tailored to their specific circumstances.
We rely on real data, not estimates or rules of thumb, to ensure our clients achieve the retirement they deserve
At Pinnacle Pension, we understand that retirement planning can be overwhelming, especially when it comes to determining how you'll replace your income from your retirement plan and other accounts. Our team of experts can help you create a personalized plan that takes into account your retirement goals and financial situation.
We work with you to assess your retirement income needs, review your retirement accounts, and develop a comprehensive strategy to help ensure that you have the income you need in retirement. With our guidance, you can rest assured that your retirement plan is on track and that you're taking the steps necessary to secure your financial future.
