MassMutual's Center for Behavioral Research(SM) Releases White Paper on Best Practices...

MassMutual's Center for Behavioral Research(SM) Releases White Paper on Best
Practices in Education Campaigns

SPRINGFIELD, Mass., April 17 /PRNewswire/ -- MassMutual's Center for
Behavioral Research has released a new white paper to share insights and best
practices regarding the successful implementation of participant education
campaigns. Titled "Best Practices in Employee Campaigns: Helping Them Get
There," the white paper highlights proven best practices and methods for
conducting education campaigns for participants in employer-sponsored
retirement plans. The white paper addresses specific methods that advisors
and sponsors can use to increase participant engagement and to achieve a
desired action such as increasing the average savings rate.
"We have found that contacting participants at least three times at
intervals of approximately 25 days can increase the response rate by an
average of 60%," says Alison Salka, Ph.D., director of MassMutual's Center for
Behavioral Research(SM). "Likewise, by providing a pre-filled tear-off
postcard to participants across 65 plans, we achieved a response rate of
almost 10% vs. 1.5% for a traditional direct mailing. This is a significant
improvement," she adds.
"MassMutual's research clearly demonstrates that sponsors and advisors who
get behind an education campaign attain stronger response from plan
participants," says Ian Sheridan, corporate vice president and chief marketing
officer of MassMutual's Retirement Services Division. "Successfully enrolling
a participant is only the first step. We are committed to ensuring that
participants understand all the factors that impact their ability to
accumulate retirement savings."
"Best Practices in Employee Campaigns: Helping Them Get There," is
available on MassMutual's Center for Behavioral Research Web site at
http://www.massmutual.com/behavior along with other white papers that address
topics important to the creation of an effective retirement savings plan.
"Considering that less than 40% of plan participants have even calculated
what they will need for retirement*, there is clearly a need to provide
retirement plan advisors and sponsors with tools that educate and motivate,"
adds Sheridan. In support of its commitment to educate consumers regarding
financial matters, MassMutual is the exclusive sponsor of the PBS documentary,
Retirement Revolution(R), produced by WTTW National Productions in Chicago,
which premiered on March 31 on PBS stations across the nation. The show will
air numerous times over the next several years.
To view the complete white paper, please visit
http://www.massmutual.com/behavior.
*Source: EBRI 2007 Retirement Confidence Survey

Contact: Lisa Reilly
413-744-0589
lreilly@massmutual.com

SOURCE MassMutual

Lisa Reilly of MassMutual, +1-413-744-0589, lreilly@massmutual.com