Florida-based Massey Services has been nationally honored for implementing a unique educational retirement plan─ involving a taco truck─ which boosted participation by its employees in investing more for retirementPlan Sponsor Council of America recognition is latest for client-focused OneAmerica®
INDIANAPOLIS and ORLANDO (May 13, 2019) —
Massey earned a First Place Signature Award in the Events and Workshops and the Promoting Participation – Small Company categories from the Plan Sponsor Council of America (PSCA) at their 72nd Annual National Conference in Tampa. PSCA, which provides resources to help Fortune 500 and small businesses with their 401(k), 403(b) and profit sharing plans, recognized Massey for increasing participation rates among 1,926 eligible employees. Massey Services was also awarded the Best in Show award, identifying their campaign as the best of all the winners.
Let’s Taco-Bout Retirement
The Let’s Taco-Bout-RetirementTM is the brainchild of advisor Jason Chepenik of Chepenik Financial of Orlando, which partnered with food truck vendor Guacamoli Co. and outfitted the truck with custom signage on the top and side displaying various program slogans. Meals were served to employees at each of the 17 regional locations throughout the Southeast U.S. Massey, a leading environmentally focused pest control company and a client of OneAmerica® since 2009, saw participation jump 78 percent from 2014 to Q3-2018 with 95.5% participation. Deferral contributions rose from 2.5% at the end of 2013 to 4.8% percent (7.9% including company match) in Q3-2018. Additionally, employees have become more engaged with interactive educational resources.
“We asked for a new way to make retirement planning more efficient and effective, and Chepenik and OneAmerica delivered,” said Jean Grono-Nowry, executive vice president and chief financial officer, Massey Services. “Let’s-Taco-Bout RetirementTM has been immensely successful in meeting our goals, by generating interest and engagement and boosting the appetite for investing money for retirement with both food and humor.”
A Cultural Shift
“The atmosphere at this event is enjoyable, approachable, and fun- and entirely different from that of traditional information sessions,” added Chepenik, managing partner, Chepenik Financial. “It’s really about a cultural shift, changing the way employees think about retirement savings plans, which ultimately yields results in increases in participation, rate of investment, and overall satisfaction with the plan.”
Massey, Chepenik and OneAmerica worked together to address challenges (such as a mobile, blue-collar workforce) by having enrollment cards on site filled with fun sayings such as, “Lettuce freshen up your future” and “Sign up now. Or you’ll be living la vida broke-a.”
“The real winners of this collaboration are the participants,” added Sandy McCarthy, president of OneAmerica retirement services division. “We are committed to working with employers to chart a course for participants, educating them on the importance of investing for retirement, and continually reminding them of being focused on their retirement goals.”
This was the third year in a row that a OneAmerica client has received the PSCA Signature Award, following Denver Art Museum’s 2017 win and RTI Surgical’s win in 2018.
OneAmerica® is the marketing name for the companies of OneAmerica.
Products issued and underwritten by American United Life Insurance Company® (AUL), a OneAmerica company. Administrative and recordkeeping services provided by McCready and Keene, Inc. or OneAmerica Retirement Services LLC, companies of OneAmerica which are not broker/dealers or investment advisors.
Chepenik Financial is not an affiliate of any OneAmerica company and is not a OneAmerica company.
Retirement ready? OneAmerica has resources for plan sponsors designed to improve participant retirement outcomes. Learn more at https://www.oneamerica.com/retirement-readiness # # # About OneAmerica
A national leader in the insurance and financial services marketplace for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit OneAmerica.com/companies.
Media Contact: Tom Spalding 317.656-7644 [email protected]