<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=314834185700910&amp;ev=PageView&amp;noscript=1">

New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Learn More

Enhanced Learning at FMC May Increase your Memory Retention

image-table

Healthcare Provider Update: Offers three medical plan tiers (Gold, Silver, Bronze), with HSA contributions for Silver and Bronze plans, plus dental, vision, and prescription coverage 5. As ACA premiums surge, FMCs tiered plans and employer HSA contributions provide flexibility and affordability for employees managing healthcare expenses. Click here to learn more

 Top employees of the FMC can use the principles of error-driven learning to improve their workplace productivity as well as the concept of active recall of information to learn new skills in the workplace,' according to Tyson Mavar of The Retirement Group, a division of Wealth Enhancement Group.


This paper finds that FMC employees stand to gain much from embracing the testing effect and error-driven learning, which help in the acquisition and retention of critical competencies necessary for organizations' effectiveness,' says Wesley Boudreaux from The Retirement Group, a division of Wealth Enhancement Group. 

The following are the three main points discussed in the article:

Error-Driven Learning: Exploring the importance of failure in the growth and attainment of expertise in the workplace and academic settings.

Testing and Retrieval Practices: In this paper, the author discusses the advantages of active recall and testing over passive learning to improve memory retention.

 Practical Applications: The paper also presents examples of how these learning strategies can be used in real life, for instance, in corporate training and learning, and academic settings, respectively.

When it comes to learning a new skill, whether it is learning a new technical process that is particular to FMC or learning a new language, one is bound to make some mistakes. However, such mistakes should not be viewed as failures. On the contrary, they are important for moving up from the entry-level position in the corporate world of FMC. Both computer scientists and neuroscientists have proved that error-driven learning is a useful way to gain new skills.

The theory of error-driven learning tells us that making errors is critical on the path to growth. This concept has important implications for educational strategies, especially in the preparatory context, which can involve safety guidelines or procedural training, for instance, at FMC. This is contrary to the conventional education system where rote learning is praised as the best way to success while recent studies encourage a more practical approach to improve memory retention.


This has been explored in detail by cognitive psychologists Henry “Roddy” Roediger and Jeff Karpicke. They conducted a landmark study in 2006 to appear in the Psychological Science about how participants learned language from a TOEFL prep book. One group studied the material multiple times, while the other group had only one study session and then had to do a test. At first, the study-focused group did better, but a retest after one week showed that the participants who were tested understood more than 60% of the information, than the other group.

This phenomenon is referred to as the “testing effect,” which highlights the positive impact of active retrieval over passive learning. MFL teachers at FMC help learners identify knowledge gaps, reduce overconfidence, and achieve a more meaningful understanding of the subject matter. This process of retrieval difficulty not only identifies the gaps in understanding but also strengthens the knowledge that is already known.

Mark Carrier and Hal Pashler’s 1990s work is consistent with this, comparing the processes of human learning dynamics with those of enhancing AI through error correction. Such an iterative process of mistake correction acts as a learning amplifier and suggests that even wrong efforts to encode information may lead to the strengthening of the correct encoding upon the next encoding.
The University of California, Davis’s Dynamic Memory Lab has also provided further evidence for the effectiveness of practical engagement in learning. Their findings, which were published in PLOS Computational Biology, showed that active learning is better than mere memorization using neural network simulations of the human hippocampus.

These insights are not only relevant to the academic setting. Political leaders prepare for debates, and athletes improve their skills in practice games, a principle that can be used in routine corporate training in FMC. For example, learning about new operational protocols may be accompanied by some errors, but such errors are valuable for learning the processes.

Featured Video

Articles you may find interesting:

Loading...


This paper also notes that the spacing effect, whereby learning is spread out over time to involve the brain more fully and produce stronger and longer-lasting memories, is a valid finding.

This is because context determines how easily a memory can be recalled. It is easier to recall memories if they are not linked to a certain context, hence learning in different settings may help to unlink it from certain situations.

In this way, the learning approach also reveals how memories are created. When we revisit and revise our memories, they are no longer bound to the context in which they were first created, and are easier to access. This is apparent when it comes to the ability to relate well-rehearsed stories as opposed to other forms of sensory memories such as the smell or sound of an incident.

Therefore, it is crucial to realize that nothing is ever perfect and that it is possible to learn from mistakes when performing tasks at FMC. Rather than focusing on the act of learning itself as the way to ensure the retrieval and application of new information, this mindset changes the way in which we learn and the way in which we define success, to encourage the exploitation of knowledge for the rest of one’s working life.

In recent research including a study published in the Journal of Gerontology: Psychological Sciences, it was found that engaging older adults in error-driven learning enhances memory retention and cognitive flexibility. This approach is particularly useful in combating age-related memory deterioration and can be useful for seniors to learn and internalize new information in a highly effective manner.

This paper:

1. Handley, Emily. “Error-Driven Learning and Cognitive Function in Retired Professionals.” Journal of Applied Psychology, 106(3), June 2021, 45-49.
2. Roediger, Henry, and Jeff Karpicke. “Testing Effect in Lifelong Learning.” Psychological Science, 17(3), Mar. 2006, 249-255.
3. Carrier, Mark, and Hal Pashler. “Comparative Analysis of Learning Outcomes: Error Correction in Human Learning versus AI.” Journal of Experimental Psychology: General, 125(4), Dec. 1996, 450-460.
4. Davis, Ronald A., and team. “Neural Network Simulations for Active Learning.” PLOS Computational Biology, 14(5): e1006131.
5. Thompson, Lucas. “Age-Related Benefits of Error-Driven Learning in Memory Retention.” Journal of Gerontology: Psychological Sciences, 75(1), Jan. 2020, 29-35

How does FMC Technologies plan to manage the investment strategy of its pension plan to ensure it remains solvent and able to meet the benefit payments as employees retire? Given the shifting dynamics of the market, what specific measures is FMC Technologies employing to enhance the liquidity of its assets and mitigate risks associated with underfunding in the current economic climate?

Investment Strategy for Solvency and Benefit Payments: FMC Technologies' pension plan aims to ensure all benefit payments are met as they fall due. The investment strategy includes maintaining funds above the Statutory Funding Objective and transitioning towards lower-risk assets such as Liability Driven Investments (LDI), gilts, and cash. This strategy, driven by advice from LCP, seeks to reduce underfunding risks and ensure liquidity​(FMC_Technologies_Pensio…).

In what ways does FMC Technologies incorporate environmental, social, and governance (ESG) factors into its investment decision-making for the pension plan? How does the commitment to ESG investing align with the broader goals of FMC Technologies, and what impact does it have on the long-term sustainability and performance of the company's pension investments?

ESG Factors in Investment Decisions: ESG factors, including climate change, are considered by FMC Technologies in investment decisions. The company encourages investment managers to integrate ESG considerations into their analysis of future performance and risks. ESG aligns with the long-term sustainability of the pension plan, though there are limited opportunities to apply ESG in the current target investment strategy of LDI, gilts, and cash​(FMC_Technologies_Pensio…).

Can you elaborate on the additional voluntary contribution (AVC) arrangements available through FMC Technologies and how they are designed to support employees in building a more robust retirement income? What choices do employees have within these AVC options, and how can they tailor their investment to suit their individual risk profiles?

Additional Voluntary Contributions (AVC): FMC Technologies provides AVC arrangements designed to offer a range of investment options to help employees build a more robust retirement income. These options allow employees to tailor investments based on their risk-return preferences, ensuring flexibility in achieving personal retirement goals​(FMC_Technologies_Pensio…).

As employees of FMC Technologies approach retirement, what processes are in place to evaluate their pension benefits and determine eligibility for various retirement options? What role does the pension plan's advisory team play in assisting employees with financial planning in preparation for retirement?

Pension Benefits Evaluation Process: FMC Technologies uses a structured process to evaluate pension benefits, supported by investment advisers and trustees. This process involves regularly reviewing the funding level and the benefit cash flows to ensure the pension plan is on track to meet employee retirement needs. Advisory teams help employees with financial planning during the transition to retirement​(FMC_Technologies_Pensio…).

What steps is FMC Technologies taking to transition its investment strategy towards greater exposure to low-risk instruments while still aiming for satisfactory returns? How does this transition align with the company’s funding objectives, and what are the anticipated benefits for the employees in the context of their retirement planning?

Transition to Low-Risk Investments: FMC Technologies has transitioned much of its pension assets into LDI, gilts, and cash to de-risk the investment portfolio. This shift aligns with the company's funding objectives to secure pension liabilities and provide stable returns for retirees. The plan is expected to fully transition to these low-risk instruments to support long-term pension solvency​(FMC_Technologies_Pensio…).

How does FMC Technologies measure the performance of its investment managers, and what criteria are used to evaluate their effectiveness in managing the pension plan's assets? In the event that an investment manager does not perform according to expectations, what procedures are in place for FMC Technologies to reassess and possibly reallocate those funds?

Investment Manager Performance: FMC Technologies evaluates the performance of its investment managers using various criteria, including their ability to meet long-term pension objectives. If an investment manager underperforms, FMC Technologies, with advice from LCP, reassesses and rebalances the portfolio as needed to ensure pension assets are properly managed​(FMC_Technologies_Pensio…).

What communication channels does FMC Technologies recommend employees use if they have questions or need clarification regarding their retirement benefits and the pension plan? How can employees easily access additional resources or support to better understand their retirement options as they transition out of active employment?

Communication Channels for Retirement Benefits: Employees of FMC Technologies can access information and support regarding their pension and retirement benefits through direct communication with trustees and the pension advisory team. FMC Technologies recommends utilizing these resources for clarity on retirement options and to understand the transition out of active employment​(FMC_Technologies_Pensio…).

Considering the implications of portfolio diversification, how does FMC Technologies determine the appropriate asset allocation for its pension plan's investment strategy? What considerations are taken into account to ensure that all employees’ retirement savings are managed in a way that balances risk and growth potential?

Asset Allocation and Portfolio Diversification: FMC Technologies’ pension plan employs a diversified asset allocation strategy, ensuring a balance between growth and risk. The investment strategy considers the need to match liabilities with assets while progressively reducing exposure to high-risk assets like equities and increasing exposure to low-risk instruments like LDI and gilts​(FMC_Technologies_Pensio…).

How does FMC Technologies plan to maintain compliance with regulatory requirements regarding its pension plan, particularly concerning employer-related investments? What are the limitations or restrictions imposed by legislation that affect how FMC Technologies can manage its pension fund assets?

Compliance with Regulatory Requirements: FMC Technologies remains compliant with regulations regarding employer-related investments. Restrictions under the Pensions Act 1995 and the Occupational Pension Schemes (Investment) Regulations 2005 prevent significant investments in TechnipFMC or associated companies to avoid conflicts of interest​(FMC_Technologies_Pensio…).

As risks associated with market fluctuations continue to evolve, how does FMC Technologies plan to adjust its investment strategy to mitigate these risks? What safeguards are put in place to protect retirement benefits during periods of economic uncertainty, and how will these strategies affect the financial well-being of FMC Technologies’ retirees?

Adjusting Investment Strategy for Market Risks: FMC Technologies employs a liability-driven approach to manage the pension fund, mitigating market risks associated with economic fluctuations. Regular reviews of the investment strategy, alongside professional advice, allow the company to adjust and protect the pension plan's assets during uncertain market conditions​(FMC_Technologies_Pensio…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Pension Plan (Defined Benefit Plan): FMC Corporation has a pension plan known as the "FMC Corporation Employees' Retirement Program." This plan is a traditional defined benefit plan, which provides retirement, death, and disability benefits to eligible employees. The plan's benefits are determined based on years of service and final average pay, which is a common formula used to calculate pension payouts. The plan is primarily available to employees who were hired before July 1, 2007. After that date, new hires were no longer eligible for the defined benefit plan but were instead enrolled in the defined contribution plan. 401(k) Plan: The FMC Corporation Savings and Investment Plan is the company’s 401(k) offering. For employees hired after July 1, 2007, this plan serves as their primary retirement vehicle. FMC contributes a percentage of eligible pay to the plan annually. One of the notable features of this plan is the immediate vesting on all contributions, including the company match. This means that employees have full ownership of all contributions from the outset. The plan offers a wide range of investment options managed by Fidelity Investments.
Restructuring Efforts: FMC Corporation has been actively restructuring its operations to improve efficiency and profitability. The company expects to achieve $50 million to $75 million in adjusted EBITDA contributions from restructuring actions in 2024, with a run-rate savings target of approximately $150 million by the end of 2025. This restructuring is critical for FMC as it navigates through the challenges posed by the global economic environment, including supply chain disruptions and inflationary pressures. Pension and 401(k) Plans: FMC's financial outlook includes maintaining strong adjusted EBITDA and adjusted earnings per share growth, which are key metrics that can influence the stability and benefits of its pension and 401(k) plans. As FMC continues its restructuring and cost-saving measures, these benefits could see adjustments to align with the company’s long-term financial goals.
Stock Options: FMC offers Non-Qualified Stock Options (NSOs), which allow employees to purchase company shares at a predetermined strike price after a specific vesting period. These options align employee incentives with the company's financial performance, as they offer the potential for profit if the company's stock price increases. However, employees must be aware of the risks associated with stock options, including potential forfeiture if they leave the company before the options vest. RSUs: FMC also provides RSUs, which grant employees the right to receive company shares once certain vesting conditions are met. RSUs do not require employees to purchase the shares upfront, making them less risky than stock options. Once vested, the shares are delivered to the employees, and they may choose to sell them, subject to capital gains tax.
In 2023 and 2024, FMC Corporation maintained its commitment to employee health and well-being by continuing to enhance its health benefits offerings. This included expanding mental health resources and increasing flexibility in healthcare spending accounts. Despite economic challenges, FMC has focused on providing robust support for its employees, including coverage for telemedicine services and wellness incentives to promote a healthier workforce.
New call-to-action

Additional Articles

Check Out Articles for FMC employees

Loading...

For more information you can reach the plan administrator for FMC at , ; or by calling them at .

https://investors.fmc.com/news/news-details/2024/FMC-Corporation-announces-fourth-quarter-and-full-year-2023-results-within-guidance-ranges-provides-2024-outlook/default.aspx https://www.financestrategists.com/retirement-planning/deferred-compensation-plans/ https://www.investopedia.com/terms/n/netunrealizedappreciation.asp https://www.taxfavoredbenefits.com/resource-center/retirement/net-unrealized-appreciation-nua-explained https://pitchbook.com/profiles/company/55527-22 https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits https://www.nerdwallet.com/article/investing/401k-contribution-limits https://www.mercer.com/en-us/insights/retirement/defined-benefit-plans/pension-discount-yield-curve-and-index-rates-in-us/ https://www.foxrothschild.com/publications/interest-rate-hikes-present-challenge-for-fully-funded-pension-plans https://www.milliman.com/en/ https://markets.businessinsider.com/news/stocks/fmc-corporation-to-introduce-strategic-growth-plan-at-investor-day-details-cost-restructuring-and-provides-preliminary-2024-outlook-1032827286 https://www.thelayoff.com/fmc-technologies https://www.kiplinger.com/ https://am.gs.com/en-int/advisors

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for FMC employees