RetireReadyTN recognized by three national organizations for providing retirement readiness education to Tennessee public employees and teachers
NASHVILLE – RetireReadyTN has received three awards in the past year for its initiative to help public employees and teachers maximize their retirement readiness:
- Pensions & Investments, 2022 Excellence and Innovation Award
- Plan Sponsor Magazine, 2023 Public Defined Contribution Plan Sponsor of the Year
- National Association of Government Defined Contribution Administrators (NAGDCA), 2023 Leadership Award for Participant Education & Communication
The Tennessee Department of Treasury, under the leadership of Treasurer David H. Lillard, Jr., works to protect the retirement of state and higher education employees, K-12 public school teachers, and the employees of more than 600 participating local governments. RetireReadyTN is the State’s retirement program, combining the strengths of a defined benefit pension provided by the Tennessee Consolidated Retirement System (TCRS), deferred compensation 401(k) and 457(b) plans, and retirement readiness education.
RetireReadyTN was recognized by all three organizations for implementing a strategic plan in partnership with its recordkeeper, Empower Retirement, to increase the number of public employees and teachers meeting one-on-one with a RetireReadyTN Plan Advisor and conducting comprehensive retirement readiness reviews. RetireReadyTN targeted communications to public employees and teachers who could be at risk of not meeting their financial needs in retirement, including those who may not be saving enough to replace income when they retire, or who are invested too conservatively or too aggressively based on the number of years until retirement.
“We want to thank Pensions & Investments, Plan Sponsor Magazine, and NAGDCA for recognizing the focused efforts of RetireReadyTN to ensure quality, customized investment education is provided to Tennessee’s teachers and public employees, allowing them to achieve personalized retirement security needs,” Treasurer Lillard said.
“Ensuring members are on track for a successful retirement is at the core of everything we do,” said Ashley Nabors, Assistant Treasurer of the Financial Empowerment Division. “By leveraging comprehensive plan data and key indicators of retirement readiness, we can tailor our communication and outreach strategies to specifically target individuals who may not be on track to meet their goals. So far, we are seeing tremendous results. We are driving more retirement readiness meetings with the members who need it most.”
Hunter Bethea, Director of the Deferred Compensation Plans, accepted all three awards on behalf of RetireReadyTN and the Tennessee Department of Treasury.