A plan of success
When Shannon Schumacher came to The Villages of Indiana as its new CEO in 2021, she quickly realized why the retirement plan had very low participation at this not-for-profit child and family services agency. She said, “It was all just very complicated and confusing. I said, ‘We need to have one plan, and it can’t be complicated.’”
OneAmerica Financial Relationship Manager Aaron Smith and Financial Advisor Mark Oyler at Bill C. Brown Associates worked with Shannon and the retirement committee of The Villages, along with the OneAmerica Financial Compliance team to design a streamlined 401(k) plan.
Aaron and Mark then traveled to the agency's offices throughout the state to educate employees about the new plan. When it launched, participation went from about 30% to 93% in less than a year, and its combined contributions doubled.
“It was a huge success in every possible way,” Shannon said.
