WASHINGTON – Howard University is pleased to be recognized by PLANSPONSOR, a publication with a reputation for editorial integrity, objectivity and leadership, as a recipient of the 2021 Plan Sponsor of the Year under the “Nonprofit DC” category. PLANSPONSOR’s annual Plan Sponsor of the Year award program recognizes retirement plan sponsors that show a commitment to their participants’ financial health and retirement success. The 2021 awards had nine categories to allow for the most accurate comparisons across plan types and sizes.

Howard University received a 2021 Plan Sponsor of the Year award for consolidating its savings plan to a sole record-keeper and for implementing best practice in plan design. The transition to a sole record-keeper included nearly $300 million in assets that were transferred to TIAA. Narrowing the investment menu to approximately 25 options simplified investing for the participants and investment monitoring for the Howard University fiduciary committee. The savings plan design, for eligible employees, includes immediate vesting for the 6 percent nonelective employer contribution and the match of 50 percent up to 4 percent of pay that an employee contributes.

Winning a 2021 Plan Sponsor of the Year award against such substantial competition is the result of hard work by many to increase the University’s participants’ financial wellness educational resources and contributions to the Howard Savings Plan. It is a collaborative award, as the Howard University and Howard University Hospital Retirement Programs team has worked tirelessly to improve the savings plan, culminating with this prestigious achievement.

To learn more about the 2021 Plan Sponsor of the Year award, visit https://www.plansponsor.com/awards/2021-plan-sponsor-year/.

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About Howard University

Founded in 1867, Howard University is a private, research university that is comprised of 13 schools and colleges. Students pursue more than 140 programs of study leading to undergraduate, graduate and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced one Schwarzman Scholar, three Marshall Scholars, four Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more than 165 Fulbright recipients. Howard also produces more on-campus African-American Ph.D. recipients than any other university in the United States. For more information on Howard University, visit www.howard.edu.

Media Contact: Misha Cornelius, misha.cornelius@howard.edu