"When a flower doesn't bloom, you fix the environment in which it grows, not the flower. __ Alexander Den Heijer

Much like flowers need the proper environment to bloom, 401(k) plan participants need the right plan to thrive and achieve a successful retirement. Retirement plans need to be modernized to consistently provide the structure for success, and enhancing the tax deferred contribution benefits of the 401(k) is key. This is rooted in four areas:

1. Plan design strategies: Utilizing automatic enrollment and progressive savings escalators
2. A focus on retirement readiness and outcomes: Shifting the plan sponsor oversight focus from fees and funds to meaningful results – participant retirement readiness
3. Thinking outside of the retirement box: Embracing other QDIA alternatives, such as managed account solutions
4. Facilitating a better process: Making it EASY for both the participant and plan sponsor

Understanding the past before charting a forward path

Before implementing any of these solutions, an understanding of the past is required.  Looking at the evolution of the 401(k) plan will inform us on how to improve it for the future.