OXFAM AMERICA is a global nonprofit organization that works throughout 90 countries in an effort “to create lasting solutions to poverty, hunger, and social justice.”
In March 2012, Oxfam implemented the Executive Benefit Restoration Allowance plan to make the executive retirement benefits competitive. The prior plan design provided 2 annuity options geared towards retirement but did not adequately speak to the wide age demographic of the organization.
Six months later, after receiving feedback from plan participants that these new retirement vehicles were difficult to understand and did not meet their needs, Oxfam America contracted Sapers & Wallack, Inc. (S&W) to redesign the plan.
Here is a case study outlining the details of this customized executive benefit restoration initiative.
After implementing, enrolling, and educating where necessary, Sapers & Wallack helped everyone get up and running. In response to the request for ongoing financial advice, Sapers & Wallack built in an option to utilize some of the budget to periodically revisit financial planning with plan participant
Sapers & Wallack redesigned the plan to create an “a la carte” menu of options giving the participants choices to fit their particular stage in life. After implementing, enrolling, and educating the executives, Sapers & Wallack helped everyone get up and running. In response to the request for ongoing financial advice, Sapers & Wallack built in an option to utilize some of the budget to periodically revisit financial planning with plan participant.
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