More Popular Than Ever
Nearly half (47.5%) of employer plans now automatically enroll employees into the plan. The number of 401(k) plans combining auto-enrollment and auto-increase grew 40% in the first half of 2015…and participants are enthusiastically responding. The number of first-time 401(k) savers grew 44% in the first six months of 2015 compared to the year before.
As plan sponsors implement automation, diversification and simplification, employee participation increases dramatically. Randall + Hurley can help guide you through these changes, and if you haven’t already restated your plan document to comply with the Pension Protection Act, this is the perfect time to add these features!