Maximize Your Benefit: Brand Your Defined Contribution Plan

Company’s sponsor defined contribution plans to attract, retain, and motivate quality workers. What brand names do your employees associate with your 401(k) or profit sharing plan?  Is it the service provider’s brand, your company’s name, or both?  Branding your plan with your company’s name is an important part of conveying the benefits of your plan to plan participants.  Plan participants need to associate their plan with their employer.  They need to be reminded of the significant contributions made by their employer in structuring, designing, maintaining, updating, and administering their plan. They need to be reminded of the financial commitment made by their employer in support of the plan and the impact that commitment can have on their personal financial well-being. Unless the company’s name is strongly identified with its defined contribution plan and its benefits, participants will not properly appreciate the company’s valuable role and the reasons for plan sponsorship will not be served.