401(k) Specialist Issue 2 - 2023 - 26

compensation and benefits analyst at IMT,
who works closely with Aldridge, connects
the plan's existing roots to the holistic care
offered to employees today. The plan never
needed to go through an extensive revamp,
nor did it need a 180-portfolio lift, it was
always, simply, a good plan. So, when Lee
began heading it, she knew she needed to
continue that legacy.
" We have these
plans not because
we have to for
recruiting purposes,
but because we
believe in helping
our employees save
for their future. "
- Marsha Aldridge
" The plan was in good shape when I
took over, and we just continued to educate
employees and add enhancements along the
way to the plan and plan design, " Lee added.
An Emphasis on Education
One area of focus that IMT has always
stressed upon is employee education on
retirement planning and financial wellness,
especially coming in and out of the
COVID-19 pandemic. When the pandemic
hit back in 2020, IMT, like many others,
pivoted to remote education via Zoom.
They just never really left.
The company has partnered with Overland
Park, Kan.-based Qualified Plan Advisors
(QPA) for the past decade as its fiduciary consultant,
and who continues to work on one-onone
education with employees via Zoom or
in-person. IMT leaves that discretion to their
employees, who can decide whether they'd
prefer to attend remotely or face-to-face.
IMT provides annual and as-needed education,
depending on plan design changes.
Most recently, when IMT implemented an
in-plan savings option based on recommendations
made to the benefits committee, the
company held group educational meetings
for employees to attend and learn about the
new offering.
QPA will also provide financial wellness
education with their webinars, where
employees are invited to attend. Topics can
range from understanding market volatility,
differences between pre-tax vs. Roth
contributions, budgeting tips, short vs. longterm
financial goals, managing student loan
debt, and more. For near-retirees between
the ages of 50 to 55, IMT provides oneone-one
meetings with an advisor, employee,
and spouse to provide more in-depth
financial planning.
For new hires, IMT connects them with
QPA in their first few days as part of an onboarding
checklist to discuss the retirement
plan, eligibility date (the first of the month
following date of hire) and the automatic
26
ISSUE 2 2023 | 401kSpecialist.com
" ...Even without the
DB plan, they can
still retire when they
want to. "
- Dana Lee
enrollment rate (at 8%, currently), in an effort
to encourage participation once eligible.
" IMT is an organization of good, smart,
and caring leaders who care deeply about
their people, " commended Matthew Eickman,
the national retirement practice leader for
Qualified Plan Advisors, and who, along with
retirement plan advisor Darin Henderson and
portfolio manager Eric Krause, worked with
the plan. " For nearly a decade, it's been a pleasure
to collaborate with the IMT leaders and
to see the benefits of those efforts as we work
with people who achieve true retirement
readiness. IMT is a great place for people to
build a career and a future. "
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401(k) Specialist Issue 2 - 2023

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