SURS has won a first-place Eddy Award from Pensions & Investments newspaper for its communications efforts in promoting the redesign of its defined contribution plan – the Retirement Savings Plan.
The Eddy Awards are given annually to private companies and public pensions for excellence in communications campaigns. Awards are given in six categories: plan conversions/403(b) consolidations, financial wellness, plan transitions, pre-retirement preparation, ongoing investment education and special projects. SURS was honored in the plan conversion category.
To better serve the retirement needs of defined contribution plan members, SURS began work to redesign the Self-Managed Plan (SMP) to the Retirement Savings Plan (RSP) in January 2019. Prior to completion of the project in September 2020, SURS launched a comprehensive communication campaign to introduce the rebranded plan, a new sole recordkeeper, a streamlined investment menu, and a new lifetime income solution that serves as the default investment option.
Communications were targeted to current SMP/RSP members, newly hired SURS members and employers. SURS collaborated with Voya Financial, AllianceBernstein and Cammack Retirement Group to create practical, user-friendly materials, a webpage, an interactive website and a retirement calculator – all using the theme of “Your Road to a Healthy Retirement.” Members received introductory announcements via email and mail, and SURS facilitated member and employer educational webinars and trainings.
“We are proud to receive the Eddy Award from P&I,” said Interim Executive Director and Chief Benefits Officer Suzanne Mayer. “Our staff worked incredibly hard to create an enhanced defined contribution plan that would better prepare members for a secure retirement. It was critical to create a robust communications campaign to educate members and employers on the details and benefits of the redesigned plan. This award is a much-appreciated acknowledgement of our work and dedication to our members.”
The award was announced this month by P&I.