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Record keepers can influence 401(k) contributions

Service providers can do better at promoting savings rates among employees, says NARPP's second annual participant FELT study, though record keepers can influence 401(k) contributions as much as employer match.

By Marlene Y. Satter | Updated on May 19, 2015
Photo: Getty Images

While the greatest single influence on participants in retirement plans to save is the employer match, record keepers’ actions and influence, put together, can add up to a force just as powerful.

That’s according to the second annual Participant FELT (Financial Empowerment, Literacy and Trust) Study from the National Association of Retirement Plan Participants, a nonprofit organization and advocate for individual savers in 401(k) plans.

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