Caribou Coffee Company, Inc. has selected Indianapolis-based McCready and Keene, an actuarial and retirement benefits consulting firm, as the exclusive service provider for its 401(k) plan, which currently has 6,000 employees and more than $7.5 million in assets, which transferred on March 1.
Caribou Coffee has a goal to aggressively increase participation over the next year. Hays Investment Advisors, a Minneapolis, MN-based employee benefits consultant firm, represented Caribou Coffee in its search.
“As a retail company with locations across the country, we face challenges when it comes to keeping team members informed about opportunities like our retirement plan,” stated Karin Renier, benefits manager for Caribou Coffee. “We were immediately impressed by the custom communications successes of the OneAmerica companies and how they reinforce the culture and branding of an organization through each uniquely designed program. We believe this approach will be fun, interesting and energizing for our team members and will help them better understand the benefits of beginning to plan for retirement at an early age.”
McCready and Keane is an affiliate of insurance company OneAmerica Financial Partners.
Hung Tran writes for Money Management Executive.