The other plan sponsors in the panel described their work-from-home policies.
Annie Diaz, administrator of the Nestlé Savings Plan in Solon, Ohio, described the company’s NesFlex policy, which was implemented in 2021 to allow employees to “choose where to work while living at a switchable distance from their home campus “.
The NesFlex policy will remain in place indefinitely, she said.
The ubiquity of work-from-home policies was reflected in the results of a survey of 136 plan sponsors who PI produced in August and presented at the conference. Almost nine in ten plan sponsors (88%) said the workforce worked either entirely remotely (32%) or on a hybrid schedule (56%). More than three in five (63%) said they plan to implement a hybrid and flexible plan once employees return to the office.
The new work-from-home policies – and the expected extension of those policies in the future – have changed the way plan sponsors reach and communicate with plan members, changes that will likely continue, many plan sponsors have said. diet.
Web-based financial education, which replaced live in-person lessons, took off during the pandemic, much to the surprise of many sponsors.
“The webinars were absolutely game-changing for us as we were able to reach thousands and thousands of people for the first time,” said Debra Roberts, Deputy Director and Chief Financial Officer of Teacher and Employee Supplementary Retirement Plans. the State of Maryland of $ 5.34 billion in Baltimore. , during a roundtable on improving retirement outcomes.
Ms Roberts said many of the 70,000 people in Maryland’s plans had never been able to attend the live events and face-to-face consultations the state was hosting before the pandemic.
“I was pleasantly surprised,” she said of the enthusiastic response to the webinars.
Ryun Swanson, the director of the University of California’s retirement savings program based in Irvine-California, also praised online financial education during the panel.
“Zoom has become a household name,” she said, adding that the technology attracted spouses, children and grandparents to educational sessions.
“It was a good thing because we reached so many more people,” she said. “We had 14,000 attendees in 2020 at our monthly events.”