Leveraging technology & personalized communication to create powerful response

Synapses Campaign Surpasses Client’s Goals

Targeted communication drives 13% increase in participants boosting their 401(k) and 403(b) contribution rates

Charlotte, N.C. – May 17, 2011 – Synapses Inc., a leading provider of personalized 401(k) education, products and services, recently teamed with a leading creative arts and design university and its 401(k) plan advisor to develop a personalized employee education campaign. The effort focused employees on whether they were saving enough in their savings plan to have sufficient income at retirement. Synapses worked directly with HR management and with the client’s advisory firm to define the scope and objectives of the campaign. The retirement plans used by the university include a 401(k) plan for its administrative employees, a 403(b) plan for its Faculty and Staff employees and a profit-sharing contribution for all employees.

Synapses' Experience Leveraged Again

Synapses leveraged one of its standard “Gap Analysis” templates and customized it to the client’s colors, fonts and overall look and feel of the university’s branding guidelines. “Our approach and software make it easy to incorporate the client’s existing branding and design already in use with other employee communications. When employees see a document that clearly came from their own HR department, they pay attention.” says John Dickinson, the lead Synapses consultant on the job. The campaign focused first on the 401(k) plan and distributed 599 reports to the 401(k) audience. Four months later 439 reports were distributed to the 403(b) audience. Each person received a report that was personalized to their particular level of participation in the plan. Their current savings level, future contributions and market growth were then projected to each person’s year of retirement. If savings were not adequate to hit a personalized target savings level, a suggested savings rate was provided that would get them on track, subject to plan and IRS contribution limits. Each report included a personalized, easy-to-use response card and allowed them to change their savings rate using the card, the plan website or the call center.

Results Prove Relevance of Message

Approximately 13% of employees responded by increasing their savings rate, which greatly surpassed the client’s goals for the program. As employees began returning their response cards, the client was amazed at the high rate of response and even took extra measures to verify that the high response rate was accurate. To have a response rate at that high level during a time of such economic uncertainty seemed almost unbelievable.

“We hear so much bad news in the industry about people being too far behind in saving for retirement. This campaign illustrates that when people are effectively given that message and are also shown how to easily take action, they’ll do it to secure their financial future. It continues to demonstrate the value of education that is personalized to each person’s individual situation and is presented in a way that is simple, easily understood and compelling enough to cause the recipient to take action to improve their financial readiness for retirement.” added Jim Saunders, Synapses President.

About Synapses
Synapses Inc. is a leading innovator in personalized 401(k) education, products and services. Providing comprehensive process analysis, custom software design and implementation, as well as personalized education product development and delivery, Synapses has produced hundreds of thousands of individual personalized 401(k) education reports. By offering 401(k) providers, sponsors and financial advisors customized products, Synapses uses a proprietary product delivery infrastructure to provide astoundingly effective education that offers unique scalability to meet the demands of the retirement services market. Founded in 2005, Synapses is headquartered in Charlotte, North Carolina. For more information, call 704-321-4738 or visit the Synapses Web site at www.synapses.com.

©2011 Synapses Inc. All rights reserved.

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