Committee shares information on in-depth review of pension plan options

After two years of extensive review, a committee tasked with refining pension plan options for employees will co-host, with human resources representatives, several town hall meetings to share information on the findings and next steps.

The review was launched in the spring of 2020 with the goal of reducing employee costs for managing retirement accounts while providing employees with the best retirement plans available to them and providing them with better training opportunities and choices. best-in-class investment companies that maximize their retirement benefits.

“The committee has worked tirelessly to become experts in CSU pension plans and industry best practices,” said Joseph DiVerdi, chair of the committee and non-tenured faculty member. “We looked at the views of our employees based on survey results and conversations, then translated that knowledge and insight into an understanding of how we can organize plan options that provide our employees the best opportunity to invest intelligently for their retirement.

“Our goal was to identify the best setting the university could provide employees for retirement now and in the years to come.”

The committee is made up of leaders from the faculty council, administrative professional council, and university benefits committee, as well as faculty representatives and university financial experts. The committee worked with Innovest Portfolio Solutions, a Colorado-based consultant that specializes in retirement plan research and recommendations. Human Resources provided information to the committee and to Innovest to inform the review.

As part of its review, the committee assessed the results of a comprehensive employee survey, information gathered from the three employee workshops, responses from companies responding to the detailed RFQ, and research and advice from ‘Innovest Portfolio Solutions.

A series of town halls in September will provide employees with information on the review and next steps. Registration is mandatory and it is important that employees, retirees and former employees choose a town hall based on their employment status. Recordings of a town hall meeting for current employees and a town hall meeting for retirees or former employees will be posted on the website.

“We hope employees, retirees and former employees will take advantage of these town hall meetings to learn about the committee’s work,” said Robyn Fergus, Vice President of Human Resources. “As well as ensuring we offer cost-effective retirement plans, educating and involving our employees in their retirement planning is a key priority of this review – we want our employees to feel empowered and actively plan for their future.”

For more information on the Retirement Plan Review and Town Halls, visit hr.colostate.edu/retirement-plans-review.

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