Award Recognizes The SMART Plan’s Innovative Active Choice Enrollment Form
BOSTON — The Massachusetts Deferred Compensation SMART Plan has received the 2017 Leadership Recognition Award through the National Association of Government Defined Contribution Administrators (NAGDCA). This award recognizes defined contribution plans for their outstanding achievements in Plan Design.
“The SMART Plan is here to provide a more secure financial future for the state’s employees,” said Treasurer Goldberg. "This award is a testament to the hard work done here at Treasury to ensure that a secure retirement is a reality for all who contribute."
“We are honored to be recognized by NAGDCA for our active choice enrollment form,” said David Lynch, Executive Director of the Defined Contribution Plans. “Our results show that participants are likely to make a positive election when faced with an active choice on participation.”
In April 2016, the SMART Plan implemented “active choice” questions to its quick enrollment form, pictured below. Since the addition of this innovative strategy, the SMART Plan has enrolled over 1000 new participants via the Active Choice Enrollment Form.
The Massachusetts Deferred Compensation SMART Plan is a voluntary retirement savings program. The Plan is established under the Internal Revenue Code Section 457, which allows eligible state employees to save and invest before-tax or after-tax (Roth) 457 contributions through salary deferrals.
Visit the SMART Plan homepage and enroll today or call (877) 457-1900.