Retirement Plan Services Case Studies

Case Study: Employer Seeks Retirement Plan Services to Boost Employee Participation in Pension Plan

One of the state's largest employers was experiencing two major problems with its participant-directed defined contribution pension plan: (1) below average participation rate and salary deferrals and (2) inefficient asset allocations among those employees who did participate in the plan.  

The company’s plan administrator was deeply concerned that the employee investment educational program had become ineffective and, moreover, that employees might not be able to achieve financial independence in their retirement.

Company leadership sought to engage an independent advisor to advise the principals about its pension plan, however they weren’t sure where to go for an unbiased review of their current program and, if necessary, for the guidance to select a new administrative platform and investment lineup that would better meet employees’ needs. Ultimately, they reached out to McKinley Carter for their retirement planning services needs.




The team at McKinley Carter first reviewed the organization's records to quantify the organization's average employee age, income, plan participation, accumulated balance, and asset allocation to help design a relevant educational program that would better meet the needs of the plan's current and prospective participants.

McKinley Carter's Retirement Plan Services Division then initiated a thorough review of the current plan's investment lineup and all options available on the current platform to help design asset allocation models, based on risk tolerance and time horizon, to balance risk with return.


McKinley Carter’s workplace education team launched a series of education programs, which included group seminars, payroll stuffers, and articles in the employee newsletter, as well as offered one-on-one guidance to employees on plan participation, risk assessment, and coordination with any existing financial plans. These meetings continued to be offered periodically throughout the year, making our team accessible for personalized consultations. As a result, plan participation increased the first year, and continues to improve each year thereafter.

To ensure continued compliance with the organization's human resource-related objectives, McKinley Carter’s retirement plan services team continues to meet regularly with the organization's executive management, providing updated guidance about the plan, reports on the current investment lineup, and recommendations for investment revisions or workplace educational programs.

Any case studies are intended to illustrate services available through McKinley Carter. They do not necessarily represent the experience of other clients nor do they indicate future performance.