One-on-one meetings, automatic enrollment and a variety of plan options drive up employee participation in retirement plans, according to a new report by The Principal Financial Group.
The report, "The Total View 2011" analyzed retirement savings trends among retirement plans with services provided by The Principal and third-party research. The report is geared toward plan sponsors and financial professionals to help them track retirement trends and benchmark their plans.
"We're seeing participants shift their focus from getting back to where they were to taking steps to get to where they need to be to reach their financial dreams," said Barrie Christman, vice president of individual investor services at The Principal. "That's why we've built this year's report around best practices for 'retirement readiness': enhancing participant engagement to help influence more successful outcomes."
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