Title Image

Participant

NWPS COVID-19 Update

First and foremost, our thoughts and prayers are with the individuals and families most affected by the COVID-19 outbreak, and our profound gratitude goes out to the medical first responders and the every-day, hard-working Americans who are delivering our food, stocking the shelves and manning the gas stations. At NWPS, we take our responsibilities to our clients, plan participants, and staff very seriously. During this COVID-19 pandemic, our top priority is keeping everyone on our team healthy so they can continue to perform their jobs while doing our civic duty to help slow the pace of infection. With that in mind, we have implemented a plan that ensures, from your perspective and the perspective of your plan participants, it will be business as usual, and we are committed to keeping the quality of our services and our responsiveness at the level you expect from us. Rest assured that contributions are being processed, phones are being answered and distribution checks are being sent. Because of our careful planning, we are confident we have the infrastructure and processes in place to be successful. We will keep you posted as new events develop, but in the meantime, don’t hesitate to reach out to us if

Wiz Bang Participant Websites Not a Panacea

We couldn’t agree more! Judy Ward’s terrific article in the May/June edition of PLANADVISOR Magazine hits the nail on the head. Entitled “High Tech Meets High Touch,” the article illustrates how thoughtful advisors blend technology and coaching to successfully engage plan participants. Bemoaning the fact that many service providers spend millions on their retirement calculators and participant websites, only to find that less than 20% of participants even log on to their site once a year, Ms. Ward interviewed a number of successful retirement plan advisors to find the balance between technology and touch. James Lyday, managing director of Pensionmark Nashville is representative of the others interviewed for the article. Everyone thinks participants need snazzy feature such as gamification to get motivated to engage. “A customized retirement income illustration is by far the home run to engage people,” says Lyday, a 2019 PLANSPONSOR Retirement Plan Advisor of the year finalist. Indeed, most participants need real help from a trusted advisor in translating their retirement outlook data into an action plan to improve their situation. Based on her interviews, Ms. Ward puts forth four simple ideas for how to blend technology and touch to build participant engagement: demystify the website calculator, narrow the financial