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Retirement Plan Proposal & Communication Plan
  • From Business, General Business
  • Due on 10 Feb, 2017 12:00:00
  • Asked On 10 Feb, 2017 11:06:54
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You are employed in a newly formed organization with 150 employees. Management has asked you, as an HR benefits specialist, to provide them with a proposal that describes two to three retirement plans that could be offered. In the proposal, you must identify specific requirements of the Employee Retirement Income Security Act of 1974 the organization would need to fulfill.

In addition to the proposal, management has asked you to design a communication plan that encourages employee participation for one of the proposed retirement plans.

Design a retirement plan proposal and communication plan of 1,400 to 1,750 words (written in the third person voice). In the communication plan, include components that encourage maximum participation from all generations of employees in the retirement plan.

Address the following issues:

  • How will the information be communicated to employees and in what formats?

  • How often will the information be communicated to employees?

  • What tools or methods will be used to communicate the plan?

  • What strategies will be used to overcome resistance to participation?

  • How will the enrollment process be initially kicked off?

  • How will the plan be communicated to make it attractive?

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Retirement Plan Proposal & Communication Plan
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  • Submitted On 10 Feb, 2017 01:03:45
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Retirement Plan Proposal & Communication Plan
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  • Submitted On 11 Feb, 2017 12:57:12
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Hey, Please find the attachment i am sure yo...
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Retirement Plan Proposal and Communication Plan
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  • Submitted On 11 Feb, 2017 01:58:06
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Retirement Plan Proposal and Communication Plan Name of Student Name of Institution   Retirement Plan Proposal and Communication Plan Retirement Plan Proposal The Employee Retirement Income Security Act (ERISA) of 1974 is a law that sets the minimum standards for health and pension plans established by the employer. The Act of does not require the establishment of these benefit plans hence they are usually voluntarily established by the employers. The main purpose of the ERISA is to protect the interests of both the employer and workers. It achieves this by ensuring the disclosure of financial information concerning the benefits, establishing standards of conduct for the parties, and providing resolution methods. In this case, the organization can consider a multiemployer plan. It is a type of defined benefit plan. According to the United States Department of Labor (n.d.), a defined benefit plan is that which does state a specific payment at retirement. A multiemployer plan entails that which involves collective bargaining agreements to which more than one employer makes contributions. Under this plan, the rights for participation would be granted from the time the employee starts to work for the firm with no regard to the age of the individual employee. The aspect of this plan will be beneficial for employees meaning that even if they work for different employees as long as they are covered with the plan, they would be still covered. It is because this type of plan supports portability from one employer to another. It is also beneficial for the employer as it is more economical due to economies of scale and pooling of risks. Apart from the contributions by employers, employees can also fund the plan by paying for the cost of coverage and any arrangements made between them and their employer. The trust agreement for the plan can give the board of trustees the power to determine the plan design and the level of benefits that different employees will enjoy based on various factors such as their age, experience, and marital status among others. The ERISA Section 3(37) 29 U.S.C. §1002(3) (37) authorizes the multiemployer plans. Another act authorizes the contributions by the employer to this type of plan and also sets the required governance standards. The National Labor Relations Act (NLRA) of 1935 also does not allow the employer to give anything o...
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Retirement Plan Proposal & Communication Plan
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  • Submitted On 12 Feb, 2017 01:53:36
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You are employed in a newly formed organization with 150 employees. Management has asked you, as an HR benefits specialist, to provide them with a proposal that describes two to three retirement plans that could be offered. In...
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