401(k) Specialist Issue 3 - 2023 - 23

PROFILES IN
PARTICIPANT
OUTCOMES
Guiding a Plan Across Three Decades
By Amanda Umpierrez
intellicents goes the extra mile to help Vermeer Corporation's plan overcome obstacles
S
ince 1986, intellicents has been serving
Vermeer Corporation, a manufacturer
of industrial and agricultural
equipment in Pella, Iowa.
The national independent advisory firm
had built the company's original profit-sharing
plan in the 1980s, designed with the
sole purpose of creating retirement savings
habits for its then over 500 employee-base.
The group worked with company leaders
and employees alike and provided mandatory
group meetings to talk through the
importance of the plan and individual oneon-one
sessions with participants.
intellicents helped Vermeer achieve an
over 85% participation rate, and eventually
added investment selections to the plan and
improved upon its company match.
Income replacement concerns
Then, in 2010, two years after the Great
Recession and nearly 25 years since their
initial involvement with Vermeer, the
advisory firm noticed a concern during an
analysis that reviewed participant outcomes
in retirement. Specifically, the number of
plan participants who would maintain their
same standard of living in retirement had
fallen to a staggering 19%.
" There were a few times in the Great
Recession where participation went down, "
recalled Brad Arends, CEO of intellicents
and who has worked with Vermeer since
ISSUE 3 2023 | 401kSpecialist.com
23
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401(k) Specialist Issue 3 - 2023

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