As today’s benefits system has become more complex, Manning & Napier (NYSE:MN), (“Manning & Napier” or “the Company”) identified a growing concern among plan fiduciaries: plan failure risk (PFR) - a company’s benefits strategy failing to result in both plan sponsors and plan participants achieving their desired outcomes. In response to these concerns, and to help advisors and their employer-based clients manage plan failure risk in today’s employee benefits environment, Manning & Napier has launched a new microsite, www.manning-napier.com/takecontrol.
The site features a Prioritizer tool to help advisors and employers set objectives, an explanatory video, infographic, and other easy-to-use resources – all of which help advisors guide plan sponsors in the quest to achieve better outcomes for their plans and respective participants.
Historically, health and wealth benefits have been treated as separate silos. Plan sponsors have largely made reactive decisions, driven by external events and often based on cost alone. Manning & Napier recognizes the need for advisors to help plan sponsors to develop a coordinated strategy that incorporates both retirement and health care objectives, in order to drive positive outcomes and avoid plan failure risk.
“Between increased health care spending and declining retirement savings, many benefits plans are subject to plan failure risk, which today, threatens the long-term security of both a business and its employees,” stated Shelby George, Practice Leader, Benefits Solutions. “Employee benefits have evolved and it is our responsibility as active investment managers to ensure that advisors and their plan sponsors have the tools to mitigate these risks. Our new microsite will help plan sponsors take control and move to a strategic, value-based approach, with effective coordination between health and retirement planning.”The microsite’s interactive Prioritizer tool will help plan sponsors begin to set a short and long-term objective. In using the Prioritizer, plan sponsors receive a report that will help them to define an effective, actionable benefits strategy for their business. A short video on the microsite explains the key components of avoiding PFR in simple terms: careful evaluation of benefits program offerings, knowing what an organization is able to spend on benefits, and clearly defining near and long-term objectives. The featured infographic also includes a comprehensive timeline of the evolution of employee benefits, and how health care and retirement have converged. For more information on Plan Failure Risk and Manning & Napier’s microsite, visit: www.manning-napier.com/takecontrol About Manning & Napier, Inc. Manning & Napier (NYSE: MN) provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trust funds, as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer equity and fixed income portfolios as well as a range of blended asset portfolios, such as life cycle funds, that use a mix of stocks and bonds. We serve a diversified client base of high-net-worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. For many of these clients, our relationship goes beyond investment management and includes customized solutions that address key issues and solve client-specific problems. We are headquartered in Fairport, NY and had 500 employees as of March 31, 2014.
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