Oregon agency helps small employers respond to big benefits concerns
Small companies may not have a lot of employees, but between their evolving health needs and the demand for regulatory compliance, these employers need steady and well-informed support. Unlike large corporations that have national brokerage and consulting firms at their beck and call, small employers have few experts available to meet their needs.
Except independent agents and brokers like PBP Insurance, Inc. in Portland and Eugene, Oregon.
PBP specializes in small businesses that may fly under the radar of large employee benefits brokers and consultants, says Senior Principal Marvin Revoal. "They don't get a lot of attention from the big guys, but they all have to comply with the same rules and regulations. They all have the same needs."
LESSONS FOR PLAN PROVIDERS FROM RETIREES AND THEIR ADVISORS
Retirement Income Industry Association looks at asset management and retiree concerns
As more and more Baby Boomers head for the retirement ranks, it might be useful for benefits brokers and plan sponsors to think about what kind of financial security these new retirees are feeling. HR directors tend to measure success by numbers—plan balances, rates of participation, trends in contributions. Maybe if they sent surveys to former employees six months after they retire, it would provide insights that would help improve the communication process with current employees.
To try to understand how effectively retirement plans in general are equipping employees for their lives beyond work, we attended the 10th annual meeting of the Retirement Income Industry Association (RIIA) in September.
