LAKE SUCCESS, NY – February 20, 2008 – Broadridge Financial Solutions, Inc. (NYSE:BR), is pleased to announce that it has received the PODi Best Practices Award in the Direct Marketing category for its innovative personalized retirement transition statement product. The award for the firm’s submission, titled “Broadridge Financial Solutions Uses Personalized Printing to Boost Retirement Plan Enrollment,” was presented on January 29th to Broadridge at the PODi AppForum 2008 in Las Vegas, Nevada. The statements, along with a multi-faceted communication and education campaign, resulted in a 16.6% increase in employee participation and over $2 million more in annual contributions to the Broadridge retirement plan.
“We are honored that PODi has recognized our personalized retirement transition statement with this prestigious award,” says Gerard Scavelli, President, Information Distribution Solutions at Broadridge. “As a result of this very successful product, we have launched a similar, more flexible solution for our clients. With minimal effort and upfront costs, plan participants benefit from having customized, relevant information to help them make sound investment decisions and plan providers benefit from a template-driven means to generate retirement plan communications.”
This award-winning initiative resulted from Broadridge’s recent spin-off from Automatic Data Processing, Inc. (NYSE:ADP). After the spin-off, Broadridge wanted to inform its 3,200 eligible employees of changes in their retirement plans and sought to increase participation and deferrals in the new Broadridge retirement savings plan. The statement, rich with color charts, illustrations and key participant data was used as a targeted personalized financial “snapshot” designed to motivate employees and investors to increase their own participation and deferral rates.
Broadridge’s internet-based solutions are used by retirement plan providers to create and distribute effective communications that clearly demonstrate how much each individual’s investments could grow over time. The retirement statements are highly personalized for each employee, containing information on their accounts, balances and investments, along with high-quality graphics that project the individual’s account balance at retirement based on various contribution levels and investment strategies.
PODi is a not-for-profit industry consortium of vendor companies formed in 1996 to foster the growth of the digital printing industry through market and standards development activities. Each year, PODi presents its prestigious Best Practices Awards to the winning companies and their print services providers for their outstanding projects that leverage the power of digital print. The PODi AppForum is the industry’s prime source for “reality information” – proven best practices and detailed case studies from the printing pros who make it happen. Today, the AppForum has earned a reputation as one of the print industry’s most valuable events.