In 2007, Teck Resources Ltd. undertook an extensive communication campaign to determine what its employees needed when it came to better understanding and participating in their DC plan.
“What we heard from our employees is that they really just wanted to be told, What do I do?” says Judy Erickson, manager, pensions, with Teck Resources.
In response to that research, Teck Resources implemented an advice program consisting of financial planning seminars and individual coaching sessions.
Erickson says the engagement level in the program was impressive, with 70% of employees enrolling in the financial planning seminar and 50% to 60% of those employees then going on to take part in coaching sessions.
Watch the video to learn more about how Teck Resources successfully engaged with its DC plan members.