Santa Barbara, CA (April 9, 2014) — Mission Linen Supply was recently awarded the prestigious Pensions & Investments Eddy Award for its outstanding 401(k) investment education program. The Eddy Award recognizes best practices in investment education for defined contribution plan participants. Mission earned first prize in the corporate category for companies with fewer than 1,000 plan participants.
Mission’s investment education program incorporated images and slogans that resonated with the company’s employees. A uniform and linen supply business, Mission creatively contrasted company lab coats and colorful Hawaiian shirts to engage employees and communicate the importance of contributing to the company’s 401(k) plan and saving for their retirement. Eddy Award judges were impressed with Mission’s innovative approach and the 19 percent year-over-year increase in plan participation.
Mission’s director of compensation and benefits, Brad Champagne, is proud of the campaign’s effort to engage employees and make sure all staff members feel confident about their retirement savings options. “Our print campaign was unique and really caught the attention of our employees. In addition, we conducted face-to-face educational meetings at headquarters and at our plants to really get the word out about the importance of saving for retirement.” Champagne remarked that he feels honored to be in the company of large and successful companies such as General Motors, which won third place in its category, as well as Kimberly-Clark and Mary Kay Cosmetics.
Champagne notes that the excellent company participation in the 401(k) plan program is due to both the creative approach used in the investment education program and also the quality of the company’s retirement savings plan. The company matches a percentage of employee investments and allows employees to remain in charge of how their money is invested. Employees benefit from the opportunity to optimize their earnings to build strong retirement savings.
Pensions & Investments covers topics including defined benefit and defined contribution plans, endowments, foundations and sovereign wealth funds, as well as covering firms providing investment services to asset owners. Pensions & Investments sponsors the annual Eddy Awards.
About Mission Linen Supply
Mission Linen Supply is a privately held, family-owned company with over 80 years of experience and is a leading provider of textile rental products, services and supplies to hospitality, medical and industrial businesses. The company’s mission is to maximize customer profits and operating efficiencies by offering one-stop shopping for linen and industrial needs.
Mission Linen Supply manages more than 40 plants and employs 2,200 people in California, Arizona, Texas, New Mexico and Oregon. The company relies on technology and environmentally minded vendor partners to conserve resources and reduce waste. Founded in 1930, Mission Linen Supply is headquartered in Santa Barbara, California, and is located on the Web at www.missionlinen.com.