Encouraging Plan Participation Archives

You’ve worked hard to design a great retirement program for the employees at your company. Now what? Aside from the initial program set up, one of the biggest challenges business owners report facing is encouraging their employees to participate. In this version of The Segrust Group’s Cliff Notes video series, we discuss five strategies to boost employee retirement plan participation. These five strategies include: 1. Auto-enrollment 2. Contribution matching 3. Eliminating waiting periods 4. Education 5. Strong plan design Cliff Cadle, Founder of The Segrust Group, explains how each of these strategies can be used to encourage more employee participation in your retirement plan because a robust plan provides multiple benefits to your business and to your employees. For questions or more information, contact us at 866-966-9724....

Retirement Plan Sponsor Series: Professional Advisors Help Boost Contribution Levels Retirement Outcomes plans sponsors enjoy are attributable in part to plan design changes to their Professional Advisor recommends. Design changes draw more employees into the plan and help convince them to raise contributions closer to levels needed to achieve retirement success.* Plans that work with a specialist Advisor are more successful at increasing deferrals. Among plans that partner with a Professional Retirement Plan Advisor who works exclusively with retirement plans, 83% have experienced deferral rate increases in the last two years-and one-third of those have enjoyed a deferral rate increase of 6% or more. *Retirement Advisor Council – Enhancing Retirement Readiness: Consensus on a Course of Action recommends consistent contribution levels in the rage of 10% to 16% of pay over a 30-year or 40-year career. These compelling numbers testify to the participant outcome enhancements Professional Retirement...

Category: Encouraging Plan Participation

Strategies to Boost Employee Retirement Plan Participation