Transamerica Wins Six Industry “Eddy Awards” for Investment Education

March 27, 2024

In collaboration with its retirement plan-sponsor clients, Transamerica has been recognized by Pensions & Investments (P&I) magazine for excellence in providing investment education to participants in defined contribution plans. Transamerica earned six P&I “Eddy Awards,” by partnering with plan sponsor clients to proactively build education campaigns to help their employees save more for retirement. 

"Transamerica is gratified to receive this prestigious industry recognition as we help our clients work toward better outcomes for their employees," said Phil Eckman, Transamerica’s president of Workplace Solutions. "These awards are testament to Transamerica’s ability to raise the bar when it comes to educating retirement plan participants. We congratulate our plan sponsor clients for their winning campaigns.”

All of Transamerica’s 2024 Eddy Awards were awarded in P&I’s “Special Projects” category. They are described below. 

First Place, Northern Arizona Healthcare
Subcategory: Not-for-Profit/Other (1,000 to 5,000 Employees)

Northern Arizona Healthcare, the largest healthcare organization in a 50,000-square-mile region, launched an innovative digital campaign to inform and educate more than 3,600 employees about significant changes to its 401(k) plan. The campaign achieved remarkable engagement, with a 53% email open rate and a 46% action rate among employees, leading to an increase in the average deferral rate to 8.31%. This successful initiative was notable for its creative communication strategies, including a custom webpage and personalized appointments outside of business hours, enhancing retirement outcomes and demonstrating Northern Arizona Healthcare's commitment to its employees' financial well-being.

First Place, Northwell Health
Subcategory: Not-for-Profit/Other (More than 5,000 Employees)

The campaign by Northwell Health—an integrated healthcare network and New York State's largest healthcare system—in collaboration with Transamerica, aimed specifically to educate those employees nearing retirement age. The goal of Northwell’s campaign was to improve awareness of the importance of financial planning using digital flyers, live and recorded webinars, and personalized meetings of participants with retirement planning consultants for accessibility and convenience. The initiative successfully engaged more than 560 Northwell Health team members in one-on-one consultations, which generated a strong 93% overall satisfaction and a Net Promoter Score of 77. These results highlight the campaign's effectiveness in improving retirement readiness among Northwell Health's workforce. The targeted approach exceeded performance benchmarks, demonstrating the critical role of tailored communication and education in supporting employees' transition to retirement. 

Second Place: Savannah River Nuclear Solutions, LLC
Subcategory: Not-for-Profit/Other (More than 5,000 Employees)

The "Plant the Seeds to Grow Your Retirement" campaign, a partnership between Savannah River Nuclear Solutions LLC (SRNS) and Transamerica, was launched to enhance retirement planning engagement among SRNS employees using Transamerica's OnTrack® retirement forecast tool. the campaign effectively utilized the Yellow Jessamine, South Carolina’s state flower, as its primary symbol across various communication mediums, ensuring relatability and consistency in its messaging to encourage employees to improve their retirement outlook. The campaign achieved notable success, including a 100% increase in participants’ one-on-one appointments with retirement planning consultants, a 1% increase in overall plan contribution rates, and significant improvements in employees' retirement outlooks. SRNS is the company responsible for the management and operations of the Department of Energy’s Savannah River Site.

Second Place, TREK Bicycle Corporation
Subcategory: Corporate (1,000 to 5,000 Employees)

Trek Bicycle Corporation, in collaboration with Transamerica, launched its "Who Do You Wheelie Love?" campaign, which achieved a 38% open rate for a Valentine's Day-themed email—significantly surpassing a benchmark 25% open rate. The Waterloo, WI company’s campaign leveraged Trek's consistent branding and the Valentine's Day's theme of love and care. The campaign encouraged employees to designate beneficiaries for their Trek 401(k) Plan and Employee Stock Ownership Program (ESOP), securing $11 million in assets with new beneficiary designations. Trek’s innovative approach heightened employee engagement and underscored the importance of financial planning and care for loved ones, making a compelling case for Trek's nomination for a 2024 Eddy Award.

Second Place, ProHealth Care
Subcategory: Corporate (More than 5,000 Employees)

ProHealth Care, the largest Wisconsin healthcare provider in its region, launched its "You're Not Alone" campaign to encourage employees contributing 2% or less to their retirement savings plan to increase their deferral rates, raising awareness of the critical need for financial security in retirement. Using engaging monthly communications, including emails and the company’s human resources app, as well as educational resources and professional guidance, the campaign aimed to enhance understanding of retirement savings benefits and motivate participants’ actions toward improving financial well-being. The results were notable, with significant increases in participant engagement, deferral rates, and overall retirement plan balances, underscoring the campaign's effectiveness in fostering a culture of financial preparedness among ProHealth Care employees.

Third Place, Medical College of Wisconsin 
Subcategory: Not-for-Profit/Other (More than 5,000 Employees)

The Medical College of Wisconsin (MCW), a private medical school established in 1893, launched a comprehensive campaign to promote its 403(b) plan’s retirement consulting team, aiming to enhance employees' financial education and retirement readiness. Through a series of targeted emails and one-on-one consultations, the campaign successfully engaged participants, demonstrated by a significant increase in retirement plan interactions, including a 17% rise in one-on-one meetings. MCW’s initiative achieved notable increases in voluntary contributions and participant financial well-being. It garnered universal praise from participants for its valuable insights and guidance, highlighting MCW's commitment to fostering a culture of economic empowerment and security.

With a long-standing commitment to innovation and customer service, Transamerica empowers individuals and businesses to build a better financial future.