How to Raise Depressingly Low 401(k) Participation Rates
We’re leading 401(k) participants to water, but when it comes to 401(k) participant engagement, they’re still dying of thirst. Why? Ed Dressel helps us figure it out.
In this short interview from the 401(k) Summit in Las Vegas, John Sullivan of 401k Specialist speaks with Edward Dressel of Retirement Readiness Solutions (formerly Trust Builders Inc.). The discussion highlights a major issue in the retirement planning space: low participant engagement in 401(k) plans.
Dressel explains that traditional advisor meetings often focus on technical topics like fees, asset allocation, and fund selection—subjects that, while important, don’t resonate emotionally with participants. As a result, people leave meetings without real motivation or clarity on their retirement readiness.
To tackle this, Dressel’s organization emphasizes a more participant-centric approach—bringing personalized retirement education directly into the room rather than relying on web portals or follow-up tasks at home. The strategy focuses on answering the most meaningful question for participants: “Can I retire?”
By helping advisors guide participants through actionable steps, even small ones like increasing contributions gradually, they aim to create real behavioral change. Dressel emphasizes that even if someone can’t reach their goal overnight, they can still make progress over time.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 401(k) Specialist and Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots. Experienced financial services content executive specializing in creative new media delivery. He joined the American Retirement Association in 2023 as Chief Content Officer, overseeing communications for the organization, as well as its sister organizations.
Edward (Ed) Dressel is President and owner of RetireReady Solutions. He has held various software development and marketing positions with the company since 1988. Ed’s vision is to help people retire confidently and successfully.
His flagship software product, The Retirement Analysis Kit (TRAK), is used by top producing advisors throughout the US. Ed pioneered the concept of Tax Wise Distribution strategy, a model for retirement income distribution, which helps people determine an accumulation strategy.
Ed is a sought-after speaker at MDRT, NAIFA and other leading retirement associations. As President and Manager of Corporate Accounts, he manages sales and relationships with Broker-Dealers, Independent Financial Advisers, Registered Representatives, Rep Agencies and financial services companies.
