Case Studies Related
to the Higher Education Sector

Higher Education Institution: University Plan to the Head of the Class

The situation can be complicated for colleges when faculty and staff have deep loyalty to a service provider that is overdue for benchmarking and re-pricing. After establishing a prudent decision-making process, a University plan realized cost savings, enhanced communications, and improved retirement readiness without changing service providers. Within one year of hiring PHD Retirement Consulting, the institution saw participation rises from 85% to 97%, and average savings rate from 5% to nearly 8.5%. More than two-thirds of participants use a professionally-managed target-date fund (compared to just 9% before), and overall plan fees dropped from 88 basis points to 56 basis points even after adding the cost of an advisor..

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Financial Wellness Awards
Related to the Higher Education Sector

Financial Wellness Awards

The Retirement Advisor Council recognizes meritorious retirement plan sponsors with financial wellness awards since 2019.   Winners are selected by jury from among nominations received from Council members.  The jury considers a range of factors including retirement plan outcomes, goals, metrics, and approach of the financial wellness program, range of financial wellness services offered, the involvement of the retirement plan recordkeeper and retirement plan advisor in the financial wellness program, success of the financial wellness program, and other wellbeing benefits offered.

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