The 401(k) Committee Is Changing—and So Should Your Approach

Today’s 401(k) committees might include a CFO who’s a Baby Boomer, an HR Director from Gen X, a Millennial Head of People Ops, and even a Gen Z Benefits Coordinator. That’s four generations.  All reviewing the same plan—but interpreting information through very different lenses.

If you walk into that room (or log into that Zoom) with a one-size-fits-all deck, you’re likely going to lose someone along the way. But what happens if you tailor your message to their preferences and priorities? The conversation shifts from transactional to collaborative.

Here’s how you can approach each generation within the context of a company’s 401(k) committee or internal stakeholders.

Baby Boomers (born 1946–1964): Prioritize clarity and experience

Committee role: Often CFOs, senior executives, or founders

What they value: Long-term stability, risk mitigation, fiduciary compliance

Your strategy:

• Lead with outcomes. Focus on how the plan supports long-term employee retention and retirement readiness.

  
  

• Provide printed or PDF reports, easy-to-read charts, and a straightforward executive summary.

  
  

• Reference industry standards and your track record to build credibility.

  
  

• Reinforce fiduciary protection and plan governance.

  
  

How to advance the conversation:

“Here’s how we can simplify your role as a fiduciary while keeping the plan aligned with long-term business goals.”

Gen X (born 1965–1980): Focus on efficiency and control

Committee role: HR Directors, Finance VPs, Controllers

What they value: Time-savings, measurable improvements, straightforward communication

Your strategy:

• Get to the point. Show them the data that matters and the action steps.

  
  

• Provide tools like benchmarking reports, cost comparisons, and provider scorecards.

  
  

• Position yourself as a strategic partner who can reduce complexity.

  
  

• Be consistent and reliable. This group values follow-through.

  
  

How to advance the conversation:

“Here are the top 3 areas we can optimize to make your plan more competitive and easier to manage.”

Millennials (born 1981–1996): Emphasize purpose and engagement

Committee role: Heads of People, Culture Officers, Talent Acquisition

What they value: Employee engagement, wellness, whole-person initiatives, tech-driven solutions

Your strategy:

• Frame the 401(k) as part of a broader employee experience or wellness strategy.

  
  

• Use visuals and storytelling to show how plan enhancements connect to retention and company values.

  
  

• Be tech-forward: mobile access, digital dashboards, and on-demand participant education all matter.

  
  

• Invite them into the process—this group values transparency and collaboration.

  
  

How to advance the conversation:

“Let’s align the 401(k) with your brand to support recruitment, retention, and wellness goals.”

Gen Z (born 1997–2012): Build trust and teach the basics

Committee role: Benefits Coordinators, Analysts, or New Hires

What they value: Learning opportunities, simplicity, responsiveness

Your strategy:

• Be accessible. This generation prefers quick responses, bite-sized explanations, and a supportive tone.

  
  

• Don’t assume baseline knowledge. Be ready to explain fiduciary terms or plan design elements.

  
  

• Encourage their input. They’re often helping behind the scenes.

  
  

• Show them how you simplify complex topics and support participants at every level.

How to advance the conversation:

“If you ever need a clear explanation or training session for your team, I’ve got you covered.”

A multi-generational committee is a strategic advantage—if you’re ready for it

When you understand who’s in the room and how they communicate, you can adjust your style, structure your recommendations more effectively, and keep conversations moving forward.

Here are a few ways to apply this approach:

• Customize your materials: Offer multiple formats such as summary decks, detailed appendices, or even short videos.

  
  

• Facilitate communication among committee members: Create alignment by addressing what matters most to each generation.

  
  

• Follow up with intention: Send a high-level recap for Boomers, a bullet-point email for Gen X, a video snippet for Millennials, and a TikTok video message for Gen Z (just joking!).

The bottom line

Your role as a 401(k) advisor isn’t just about investments or plan design, it’s about communication. When you tailor your strategy to match the generational dynamics of your client’s decision-makers, you build stronger relationships and drive better outcomes.

The turning point is when you help them communicate across their organization more effectively. That’s when you go from vendor to trusted advisor.

Want help crafting customized communications that resonate with every generation on the committee? Let’s talk.

Thanks for reading & Happy Marketing!

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401(k) Marketing is the modern marketing agency for the retirement plan industry. We are proud to support our clients through custom engagements, content marketing campaigns, sales material innovations, thought-leadership consulting, interactive workshops and speaking events. Our mission is to empower the retirement plan industry with high-quality marketing, ultimately inspiring Americans to become financially prepared for their future.

Retirement Plan Marketing is the solution for retirement plan advisors looking for an ongoing and scalable marketing process to generate awareness, streamline sales opportunities and earn more 401(k) business. This comprehensive, strategy driven marketing program includes digital content and sales material specifically designed to help retirement plan professionals attract the right decision makers.