NYSDCP wins NAGDCA Art Caple President’s Award
The New York State Deferred Compensation Plan (the Plan) has won the first ever National Association of Government Defined Contribution Administrators (NAGDCA) Art Caple President’s Award. The Art Caple President’s Award was founded in 2019 to commemorate past NAGDCA president, Art Caple, who is noted as a visionary and voice for those who serve others through employer-sponsored retirement plans.
The Plan was recognized for the launch and promotion of the Online Enrollment solution, which was carefully structured to provide a positive employee experience. With more than 1,900 local employers and multiple state entities, the Plan knew that it shouldn’t fit a unique entity into an existing, linear structure. In order to provide the best experience, non-standard requirements were created so that employees could search for and identify their employer with ease during the enrollment process.
In addition, because the Plan covers multiple non-traditional employee worksites, such as special districts, public authorities and correctional institutions, locations where eligible employees can use a desktop computer are not always available. Also, in today’s handheld digital evolution, some individuals no longer have computers at home. Most individuals do, however, have access to a smartphone, so the Plan designed a solution that would allow for an end-to-end, mobile-optimized experience; using Quick Response (QR) codes to fully complete the enrollment process.
These processes contributed to a 78% enrollment increase in the first month of launch, as well as a sustained 20% average increase quarter over quarter. A video summarizing this experience can be found here.
The Plan would like to thank all NYSDCP employers and participants for their partnership in helping make this solution launch a success.
For more information on the founding of the Art Caple President’s Award, visit the NAGDCA website.