Participant-focused Denver Art Museum Earns Prestigious Signature Award
Nonprofit takes first place in Increasing Plan Participation in the 70th Annual Plan Sponsor Council of America competitionIndianapolis, May 3, 2017
The Denver Art Museum, a nonprofit organization providing transformative, life-enriching events and artwork to the Mile High City for nearly 125 years, was honored by a national organization for creating and implementing a retirement plan beloved by its employees.
The Denver Art Museum earned a First Place Signature Award in the “Increasing Participation/Small Company” category from the Plan Sponsor Council of America (PSCA) at their 70th Annual National Conference in Chicago.
The organization, which provides resources to help Fortune 500 and small businesses with their 401(k), 403(b) and profit sharing plans, recognized the Museum for increasing participation rates among its 225-employee workforce.
The Denver Art Museum, a client of American United Life Insurance Company® (AUL), a OneAmerica® company, since 2015, saw its participants increase their plan participation and bump their deferral contributions from 2.4 percent to 7.1 percent after changing retirement plan providers.
“Working closely with OneAmerica and American Portfolios, the Denver Art Museum has transformed its retirement plan by eliminating barriers to participation and developing retirement-plan communications that reflect the museum staff and culture,” said Curtis Woitte, deputy director and chief financial officer, the Denver Art Museum.
“This award says the Denver Art Museum values their employees the same way they care about their mission to spark creative thinking and transform lives through events and creative expression. That mission along with their vision to help participants see the value in preparing for their future resonated with us,” said Pat Foley, president of Individual Insurance and Retirement Services for OneAmerica. “Everyone deserves to reach their retirement goals—especially those who devote their entire careers to serving others.”
OneAmerica and the Denver Art Museum worked together to create a resource-rich customized retirement communications campaign with unique educational materials tailored specifically to the Museum’s employee-base to meet their needs and encourage participants to contribute more to their plan.
OneAmerica teamed up with the Museum’s financial professionals to hold mandatory in-person education sessions for all employees.
The plan advisors are Brett Shofner, AIF, of Delray Beach, Florida, and Thomas Nazzaro, AIF, of Denver, Colorado, both of American Portfolios. Plan size increased from $4.67 million in 2016 to $6.8 million in 2017.
PSCA, a nonprofit, created the annual Signature Awards as a competition designed to honor excellence in plan communication and investment education. It provides plan sponsors like Denver Art Museum with outside, objective recognition of the efforts of their company and their staff.
OneAmerica® is the marketing name for the companies of OneAmerica. Products issued and underwritten by American United Life Insurance Company® (AUL), a OneAmerica company.
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About The Denver Art Museum
The Denver Art Museum is an educational, nonprofit resource that sparks creative thinking and expression through transformative experiences with art. Its holdings reflect the city and region—and provide invaluable ways for the community to learn about cultures from around the world. Metro citizens support the Scientific and Cultural Facilities District (SCFD), a unique funding source serving hundreds of metro Denver arts, culture and scientific organizations. For museum information, call 720-865-5000 or visit www.denverartmuseum.org.
A national leader in the insurance and financial services marketplace for 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit OneAmerica.com/companies.
Tom Spalding, Public Relations Manager, 317-285-1461
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