E-Delivery Best Practices: 3 Critical Areas
As an industry, we’ve traditionally relied on our relationships with Washington to drive change in e-delivery enablement. Despite those efforts, change has been slow. But why wait? At Oculus, we believe if we as an industry came together, we can have sweeping impacts on e-delivery adoption, saving hundreds of millions of dollars, and enabling better participant experiences simultaneously. With that in mind, we’ve created a set of e-delivery best practices organized within a framework recognizing three critical areas:
- E-Delivery Enablement – Providing an infrastructure that supports easy and efficient e-delivery adoption for sponsors and participants.
- Sponsor Promotion & Tools – Creating a variety of approaches to position e-delivery with plan sponsors that help them address their typical areas of concern.
- The Participant Experience – Offering participants a rich, personalized experience surrounding the e-delivery process.
This new framework – and its accompanying best practices – focus on meeting participants’ needs and motivating them to engage with their retirement programs, while taking hundreds of millions of dollars of expenses out of the retirement system. And, these practices can be put in place while we continue to advocate for regulatory improvements. In fact, these practices can enable us to better implement regulatory changes if and when they occur.
Imagine the possibilities … We have.