What's the best strategy for potential savers who know they should take advantage of their employer's 401(k) offerings, but can't quite get their act together? Increasingly, automatic enrollment an auto-escalation plans have been helping plan sponsors boost participation rates and more seamlessly fulfill their retirement responsibilities – but it's not the easiest endeavor in the world.
Speaking Sunday at ASPPA's annual conference in Washington, D.C., James J. McKinney, CPC, of Retirement Strategies Inc. of Augusta, Ga., pointed out many of the trials and tribulations of the world of automatic enrollment in 401(k) plans.
And while the PPA has made stipulations and regulations for auto-enrollment a more challenging prospect (especially in the maddening raft of required notices), McKinney says the positive sign is that enrollments are also up, as a result.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
