Ian Sheridan has a sign on his door that reads: "How will you change the world today?" The vice president of marketing and business development for MassMutual Retirement Services is serious about answering that question. He wants to change the world by motivating more working Americans to save for their retirement. "Talk to me a year from now and ask, 'Ian did you move the needle?' I hope we can make a difference-because the system needs help."Sheridan has been on the job for a little more than a year, and already he's changing the world-at least for people whose employers sponsor MassMutual retirement plans. In November, Sheridan's group launched a new behavioral-based communication strategy to encourage employees to participate in their company-sponsored 401(k) plans. His goal: To exceed industry averages for enrollment and participation.
"The industry average is 74% participation in employer-sponsored, defined-contribution plans," says Sheridan. "And, while I'm not going to give you a specific number for our goal, I will say that's the floor for us. The tools and environment we've created are designed to help us exceed the industry average."
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