Browsing Tag
401(k) Automatic Features
25 posts
401(k) automatic features are plan design tools that streamline employee participation and savings. They include automatic enrollment, which enrolls eligible workers into the retirement plan by default unless they opt out, and automatic escalation, which gradually increases employee contribution rates over time. These features aim to boost participation, improve savings outcomes, and help employees prepare for retirement with minimal effort.
‘Forgotten’ Accounts: Forget Hyperbole, Here’s a Solution
Tom Hawkins makes the case for an optimal solution to problem of left-behind accounts
Plans with Automatic Features Boast Stronger Account Balances
401(k) plans with auto features have higher account balances of $50,000, reports BoFA
The Power of Automated 401(k) Plan Features
Boost retirement readiness with automated plan features like auto-enrollment, auto-increase, and re-enrollment to improve savings success.
Making 401(k) Saving Hard to Avoid with Marc Howell and Felix Okwaning at PrincipalⓇ
On this episode, learn how using a combination of automatic features including “auto-sweep” to boost enrollment and deferral rates will dramatically help employees get prepared for retirement.
Auto-Accounts: The Next ‘Nudge’ from Shlomo Benartzi
After his latest op-ed in The Wall Street Journal, the famed behavioral economist expands on it for 401(k) Specialist to help plan advisors get involved
‘Fiduciary’ Should No Longer Be the Cornerstone of Our Profession
When the roles of politicians and regulators become indistinguishable, the result will often be complex rules and regulations that do more harm than good
403(b) Participation Hits All-Time High: PSCA
Survey reveals 80% of eligible employees contributed to these plans in 2022, and many plans made design enhancements
Higher Default Options Can Lead to a Retirement Savings Boost
New research from Voya finds plan sponsors who focus on optimal retirement plan design settings are likelier to see higher savings rates from their employees
Automatic Enrollment Adoption Grew to 85% in 2022: T. Rowe Price
The latest benchmarking report by T. Rowe Price found participants with automatic enrollment in their plans were also much likelier to participate
Employers Prioritize 401(k) Design for Recruitment and Retention
New research from Morgan Stanley uncovers what benefits and features employers are highlighting for their 401k plans