How smart is your retirement plan design?

Automatic enrollment and automatic increase are plan design features that help employees save for retirement without the need to take any action.

 

Nearly 20 years ago, Congress paved the way for employers to add automatic enrollment and automatic increase features to their retirement plans by providing safe harbor relief from a variety of concerns that often deterred interested employers from adopting these features. Since that time, Congress, federal regulators and even state legislatures have increasingly embraced automatic enrollment and automatic increase features as best practices in plan design.

 

This paper discusses the following:

 

• Automatic enrollment and automatic increase feature
• The evolution of automatic enrollment under federal law
• State auto-IRA programs push automatic enrollment further
• The automatic enrollment decision
• Fiduciary advantages
• The future of auto enrollment

Read the full paper

Read our paper for additional insights into this paradigm shift in the defined contribution space. It presents the perfect opportunity for employers that have not yet added automatic enrollment and automatic increase features to their plan design to reevaluate whether now is the time to do so.