State Treasurer Dale R. Folwell, CPA, the Supplemental Retirement Board of Trustees (Board) and staff have been recognized by the National Association of Government Defined Contribution Administrators (NAGDCA) with a Leadership Award for their National Retirement Security Month Campaign – myNCRetirement Journey.
NAGDCA's annual Leadership Awards recognize the brightest ideas and most innovative solutions from across the public-sector defined contribution industry. National Retirement Security Month (NRSM) is celebrated each October and raises the importance of saving for retirement.
The NC 401(k) and NC 457 Plans are exclusively available to public servants in the state of North Carolina. The myNCRetirement Journey campaign sourced information from state and local governmental employees through a NRSM survey, implemented a robust social media campaign and hosted exclusive events to inform, educate and engage current and future participants.
“I want to thank the Board, staff and our partners who are committed to working with a participant-first mentality in making sure we not only have the best resources and lowest-cost options available, but that our members are confident in taking the right actions to prepare for a better future in retirement,” said Treasurer Folwell. “This award is a welcome recognition of those efforts.”
The results of the campaign were extraordinary. For October 2022 when compared with other months in the year, there was a 95% increase in event attendance, 71% increase in social media and digital engagement and an impressive 194% increase in visits to the enrollment webpage. These culminated in record-setting participant actions through enrollments and increasing contributions.
“The innovative execution of this campaign by our communications staff serves to highlight the North Carolina Retirement Systems Division as we continue to educate current and future public servants," said Treasurer Folwell.
“We can and should do more. This year, we asked the Legislature to consider a $25 monthly match for all state employees and teachers to promote retirement readiness. It only takes a small incentive to start the ball rolling. This match could help close the 50% gap between state employees’ and local employees’ participation rates. Let’s help state employees and teachers become a leader in their future retirement.”
Previously, NC Plans has been recognized with 15 Leadership Awards for Plan Design and Administration (2020, 2019, 2017, 2016, 2014, 2012, 2011); Technology and Interactive Media (2021); Participant Education and Effective Communication (2016), Excellence in 403(b) Plans (2015); National Save for Retirement Week/Month (2021, 2015, 2014, 2013, 2011); as well as a special recognition for the design and implementation of a Public Employees Online Survey.
North Carolina's Supplemental Retirement Plans (NC 401(k) and NC 457 Plans) are among the largest and lowest-cost public plans in the country. The plans are administered by the N.C. Department of State Treasurer and the Supplemental Retirement Board of Trustees, and offered by more than 1,100 public employers, including state agencies, local governments, school districts and community colleges.
The N.C. Department of State Treasurer is also responsible for managing one of the largest pensions in the United States as well as other funds, with assets of over $115 billion as of Aug. 4.
For more information see NCPlans.
Retirement Systems Division Communications Manager Christy Farrelly, left, and State Treasurer Dale R. Folwell, CPA, display the 2023 Leadership Award presented by the National Association of Government Defined Contribution Administrators. The award recognized the Supplemental Retirement Board of Trustees, staff and Treasurer Folwell for industry brightest ideas and innovative solutions.