Making it easier for employees to save for retirement through plan enhancements has boosted plan participation and savings, but no one plan feature or strategy is enough.
That's according to Deloitte's 14th "Annual Defined Contribution Benchmarking Survey," which found that plan sponsors and providers have upped their game in offerings intended to boost employee engagement and increase savings.
In fact, the number of plans offering step-up contributions rose substantially, from 46 percent or respondents last year to 62 percent in 2015.
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