As employers increasingly focus on how to make benefit plans more effective and get employees to participate, some best practices could offer opportunities to do just that.
That’s according to the Bank of America Merrill Lynch Plan Wellness Scorecard, a semiannual report that looks at trends in employee behaviors and employers’ adoption of plan features.
Among the trends identified in the latest study is growth in both pretax (401(k) and health savings accounts) and Roth 401(k) accounts, with Roths reaping “particularly strong growth.” The number of contributors to the latter, the study said, increased by 38 percent while total contributions were up by 32 percent.
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