HOUSTON – April 11, 2024 – Chicago Public Schools (CPS) and its exclusive retirement plan provider Corebridge Financial were recently honored with a 2024 Pensions & Investments Eddy Award. The honor recognized the proactive communication and education program rolled out by CPS and Corebridge supporting the CPS consolidation of multiple retirement providers to just one for its supplemental 403(b) and 457(b) plans. The program resulted in increased plan participation, improved participant asset allocation and a more personalized employee experience.
“Corebridge is honored to partner with Chicago Public Schools to help its employees make informed decisions and take thoughtful actions in pursuit of their retirement goals and dreams,” said Terri Fiedler, President of Retirement Services at Corebridge Financial. “We congratulate CPS on this Eddy Award, which is a testament to their commitment to engage employees on the ever-important topic of retirement, while providing access to tools, resources and supplemental defined contribution retirement plans that can help individuals achieve retirement success.”
CPS, the fourth largest school district in the U.S., tied for first place in the category of Conversions/403(b) Consolidations (among public plans with more than 5,000 participants). The category recognizes campaigns devoted to explaining the move to a new recordkeeper and includes consolidation of recordkeepers by 403(b) plans.
"Receiving this industry award is not just a milestone for Chicago Public Schools, but a testament to the power of true collaboration and partnership,” said Karla Kirkling, Executive Director of Healthcare and Benefits at Chicago Public Schools. “It's been an incredible journey with Corebridge, whose dedication, innovation, and commitment have been pivotal in achieving this recognition. This award is a shared achievement that we proudly celebrate for our plan participants. We look forward to continuing this journey of excellence, innovation and success."
The award-winning campaign of CPS and Corebridge included a multichannel communication and education approach to engage employees, ensure a smooth transition and help employees take action on their path to retirement readiness. The campaign included:
- Conversion materials on plan changes, enhancements and enrollment
- Orientation meetings
- Customized website and digital tools
- Webinars about the supplemental defined contribution plans and investment options
- Financial wellness educational campaigns
- Targeted, needs-based communications based on insights gleaned from plan data
- Participant access to Corebridge Retirement Plan Consultants
Visit the Retirement Services section of the Corebridge Financial website for additional information
about its offerings for employers, participants and consultants.
About Corebridge Financial
Corebridge Financial, Inc. (NYSE: CRBG) makes it possible for more people to take action in their financial lives. With more than $380 billion in assets under management and administration as of December 31, 2023, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn and YouTube.
Işıl Müderrisoğlu (Investors): investorrelations@corebridgefinancial.com
Jay Russo (Media): jay.russo@corebridgefinancial.com
Source: Corebridge Financial