Retirement Plan Service Representative
DeMars Pension Consulting Services, Inc. (Overland Park KS / MO)
401k & Defined Contribution Plan Consultant
Planned Retirement Consultant & Administrators, LLC (Remote / Ridgewood NJ)
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Press Releases by Date | Press Releases by Company Name
View More Press Releases by Francis LLC
Press Release
Issued by Francis LLC
May 2, 2024
In March of 2024, representatives of Grazzini Brothers & Company, a Minnesota-based construction specialty contractor, and Francis LLC traveled down to Orlando, FL to receive an Eddy Award at the Pension & Investments annual Defined Contribution East Conference.
Grazzini’s 401(k) Week promotion brought home a First-Place award in the Investment Education category for employers under 1,000 employees.
What was the 401(k) Week promotion?
In mid-2022, Grazzini transitioned their recordkeeping partner to T. Rowe Price and engaged Francis LLC as their retirement plan consulting and financial wellness provider. A new investment menu and a holistic financial wellness benefit were introduced.
To raise awareness of the plan enhancements, Francis and Grazzini partnered to create 401(k) Week, a week-long event with a different theme each day that encouraged employees to READ, WATCH, and DO. For example:
MONEY MONDAY
During the week, employees were encouraged to meet onsite with a Francis Financial Planner, providing an opportunity to receive objective financial advice within the safety of a confidential and sales-free environment.
Results of the Promotion
The campaign helped Grazzini employees learn more about their new recordkeeper and investment options and provided opportunities to increase their financial literacy and wellness.
For the 12-month period ending 8/31/23, there was an incredible 34% increase in the number of employees who met with a Francis financial planner.
Additionally, the campaign was highly successful in encouraging sign-ups for virtual financial planning sessions.
Specifically, 401(k) Week resulted in a high utilization of the financial planning sessions, an increased number of employees saving with Roth tax treatment, an increase in the percentage of assets investment in premixed target date funds, and half of employees getting registered for access to their new recordkeeper’s website.
View More Press Releases by Francis LLC
Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.