Break from the Grind December 15, 2016

A Little Friday File Fun

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In Danville, Kentucky, two men were sitting in a car outside of a barbeque restaurant discussing robbing the place, when one of their phones accidentally dialed 911. The dispatcher listened in to the call and , and authorities determined where the call originated and contacted Danville police chief Tony Gray, who, as it turned out, was enjoying a meal inside the mentioned restaurant. The Huffington Post reports the two men were located inside the vehicle and got into more trouble because they were into.xicated.

In Miami, Florida, a man robbed a store disguised with only a bucket on his head. But, the interesting part is, he was stealing pigeons.

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In Fort Myers, Florida, a woman and her boyfriend got into a fight. The girlfriend grabbed a knife and as the boyfriend tried to get it from her, he was cut. What was the argument about? According to the Associated Press, the boyfriend wouldn’t pay for the girlfriend to have her hair and nails done for her birthday. The girlfriend was charged with battery.

In Burleson, Texas, a man who looks like Santa was asked to leave Six Flags Over Texas. The man says his outfit is not a costume; his beard is real and his glasses are prescription. He also says he wears the same hat and red vest every day throughout the holidays everywhere he goes. The man got in trouble after he says a woman asked him to pose for a picture with her children. “Knelt down, put my arms around them, and afterward I reached in my wife’s walker, pulled out two candy canes, handed it to them,” he says, according to the local CBS News station. He said he was then approached by park security. The man says he does not approach children; the parents come to him.

This dog found a clever way to find playmates.

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This poor kitty can’t enjoy the snow without his aggravating dog sibling.

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In Kingman, Arizona, The Prestons Family Christmas Light Show will be featured on this year’s The Great Christmas Light Fight Series on ABC.


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Administration December 15, 2016

Improved Retirement Plan Communication Can Boost Confidence

DC plan participants are not very confident about saving enough for retirement, and providers are recognizing ways to boost website and digital communications to address this, a study finds.
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Women are less confident than men about saving enough for retirement, according to Corporate Insight’s Satisfying Today’s Retirement Plan Participant Study.

Only half (51%) of women say they are “confident” or “very confident” that they will be able to afford the lifestyle they desire, while 64% of men say the same. This trend is consistent across age groups and is especially pronounced among Baby Boomers (52% of women vs. 68% of men). Furthermore, respondents who are not “confident” or “very confident” are much more likely to be female than male, at 65%.

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The study suggests improvement in communication could be key to boosting retirement savings behavior and confidence. More than three-quarters (76%) of survey respondents report that they receive communication from their plan providers once per quarter or less, Corporate Insight Senior Retirement Analyst Andrew Way tells PLANPSONSOR. Just 34% of participants are very satisfied with their provider’s website.

Corporate Insight asked retirement plan participants to rate the importance of seven major aspects of plan provider websites. Plan participants continue to prioritize account information (90%) and security (93%). Also important to a majority of participants is design, navigation and ease of use (75%); account self-service (75%); transaction capabilities (71%) and planning, advice and education (57%).

NEXT: Providers recognizing need for communication improvement

Way says that over the course of the past year, 12 firms have made signification additions or improvements to their retirement readiness tools, eight of which added retirement readiness figures directly to website homepages. The demand for retirement income projections is clearly demonstrated by Corporate Insight’s survey of 1,488 defined contribution (DC) plan participants. Roughly 63% of all respondents answered that a retirement income projection is a feature that is either extremely important or very important to include on the participant site, and a tool offering results that include this projection was deemed extremely or very important by 65%.

However, the data also shows while individuals deem these tools as important, many do not take advantage of their availability; only 24% of all respondents stated they viewed their retirement readiness rating or chart in the previous 12 months, and only 23% used a retirement planning tool.

A common thread among the recent digital innovations by retirement plan providers is the proliferation of responsive design. Providers are working to create consistent experiences for participants whether they are using their computer, tablet or phone. Since September 2015, five firms overhauled their participant websites to introduce responsive design. At this point, 74% of the firms in Corporate Insight’s Retirement Plan Monitor’s coverage feature some level of responsive design on their public or participant sites.

DC plan providers recognize the increasing dominance of mobile and are approaching website enhancements with a mobile-first mindset, Corporate Insight says.

A study preview may be downloaded from here.

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