Filed Under:Markets, Employee Benefits

Key features drive retirement plan participation

Numerous studies have indicated that Americans need to save more for retirement, and with defined contribution (DC) plans replacing pensions in most workplaces, the onus is now on employees to take control of their financial future. So how can employers ensure their workers are making the most of their retirement savings programs?

A recent study by the Principal Financial Group found that several key features can boost retirement plan participation and savings rates whether all are offered or a combination of just two are available. Those four features include: automatic enrollment, automatic increases, online deferral changes and employer contribution.

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Nichole Morford

Nichole Morford
Managing Editor

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