Step 3 - Announce the plan

Announcing your plan

It's time to announce your new retirement savings plan! We recommend that you send the plan announcement 1-2 days before the education session, so it's top of mind for employees. You can use the announcement template linked below for an idea of what information to share with your team.

Access and Customize Announcement Template

Enrollment links

Just before the employee education session, we will send an email with a unique enrollment link to your employees, inviting them to join the plan. If employees do not receive their link, please have them check their spam folder for an email from enroll@commonwealthretirement.com.

In the event that an employee is unable to find the email with the link, they can enrol in the plan by entering the registered email in all lower case letters in the sign-up portal (https://my.commonwealthretirement.com/create-account). If the email matches exactly, the site will connect the employee to their employer. 

Eligibility

Only full-time or part-time employees can participate in your plan. Any individual who is paid under contract, on a fee-for-service basis or other arrangement (e.g., gig worker) is not eligible to participate through an employer arrangement.

How do employees enroll?

Enrollment is a self-serve process and takes about 10-15 minutes to complete. The plan is optimized for desktop/laptop use ­– please instruct employees to sign up on a computer rather than using their mobile device.

How do employees define their contribution amount?

During enrollment each member is encouraged to maximize any match you provide. They also define the amount they want to save, which can be higher or lower than an employer match.

Here are two videos that outline the enrollment process:

• Enrolling in your workplace plan (with a match)
• Enrolling in your plan (no employer match)

Member data

All member data will be protected and used only for the purposes of plan administration. This includes enrollment: to verify an enrolled member is an employee of your organization and to send plan enrollment communications, employment status: to update the employment status of employees (e.g., new hire / terminated / date of change) and payroll: to track payroll details for employees (e.g., employment start date).

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