MONEY HACKS: 3 Big Ideas from the NAPA 401(k) Summit

The NAPA 401(k) Summit is one of the retirement industry’s most influential events, bringing together advisors, thought leaders, and benefits professionals to explore the future of workplace retirement plans.

This year’s conversations centered on a powerful idea. When organizations are intentional with their retirement programs, employees are more likely to engage, participate, and build long-term financial confidence. In this video, Alex shares three strategies that are helping employers create stronger connections between their teams and their retirement benefits.

The video also explores two innovative solutions that are gaining momentum in modern plan design. Guaranteed income products and managed account solutions are making retirement planning more personal, more predictable, and more adaptable.

Whether you’re responsible for building a plan, supporting a team, or simply looking to get the most from your retirement strategy, this video offers valuable insights to help you move forward with confidence.

Have any money questions you’d like answered? Our Money Hacks series is built on conversations we have with employees, investors, savers, and anyone planning for their financial future. What topics are on your mind for our next episode?

Video Transcript:

Hey, this is Alex Assaley, and it’s episode number 127 of Money Hacks.

I just got back from attending the NAPA 401(k) Summit last week. For those unfamiliar, it’s the retirement plan industry’s annual convention. NAPA stands for the National Association of Plan Advisors, which is part of the American Retirement Association, a national trade organization dedicated to preserving and strengthening the private retirement system.

This annual event brings together some of the smartest minds, innovators, and thinkers in financial services, specifically in the retirement plan space. It’s a place to talk about goals, priorities, legislation, and the real challenges facing America's workforce. It was a great conference with a ton of meaningful conversations about issues that affect both organizations and their employees, all centered on delivering high-quality, valuable retirement benefits.

In particular, I want to share a few key topics that sparked some excitement and really got me thinking. These all relate to how employees are engaging with their retirement plans, what’s working when it comes to participation, decision-making, and saving, and what innovations we’re seeing in the future of 401(k) and 403(b) plans.

One major takeaway is that even with all the advancements in technology, digital tools, and sleek user interfaces, many participants are still relatively disengaged from their retirement plans. Despite how easy it is now to save and manage accounts online, a lot of people are still checked out when it comes to engaging with their 401(k) or 403(b), or with advisors.

I participated in a session that focused on thoughtful, forward-thinking ways to help companies and organizations boost engagement and help their employees make better decisions for both the short and long term. From that, there were three big takeaways.

First, it’s important that the organization works closely with its partners to build a customized and thoughtful communication program. This should align with how the organization operates and feel natural to how employees receive information.

Second, make sure the human element is present. Give employees access to someone they can talk to, a real person like an advisor, whether that’s by phone, in person, or virtually. Even in a world that leans toward DIY digital tools, people still want to have conversations about their financial life, whether they’re nearing retirement or just getting started.

Third, content matters, but not always in the way you’d think. Beautifully designed, graphic-heavy emails often perform worse than plain-text ones. Content that feels like it’s coming from a trusted financial institution, like your bank, tends to get more traction. Simplicity is often more effective.

The second big theme I want to talk about is the growing presence of solutions that are becoming staples in retirement plans.

One is retirement income or guaranteed income products. We’ve talked about these in past episodes, but they’re gaining steam. These tools help create a buffer or guarantee for managing payouts from a 401(k) or 403(b) during retirement, offering a way to cover living expenses with more predictability and protection. If you’re on a retirement committee or just someone exploring your plan, this is something worth asking about.

The other solution is related to investment allocation. Many employees may be inadvertently taking on too much risk or becoming too concentrated in certain stocks through the funds they choose. That’s where managed account solutions come in. These are tech-driven, customized portfolios built around an individual’s unique profile. They factor in a wide range of data and deliver prudent, personalized allocations.

There’s still some debate over whether target date funds, model portfolios, or managed accounts are the best default solution, but having the conversation and understanding the options is a smart move for any organization.

We’ll be sharing more insights and ideas around these themes soon, but for now, I hope this was a helpful update, especially if you’re part of a retirement plan committee or participating in a workplace plan and looking to get the most from it.

Thanks for tuning in. See you soon.

Have any money questions you’d like answered? Our Money Hacks series is built on conversations we have with employees, investors, savers, and anyone planning for their financial future. What topics are on your mind for our next episode?