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Administration February 3, 2006
Invesmart Says Participation Increases With DC Product
March 14, 2005 (PLANSPONSOR.com) - Invesmart is
reporting that participant behavior in its RightPath defined
contribution plans indicates an improvement in participation
and contribution rates.
Reported by Kip McDaniel
According to a news release from the company, 60% of those enrolled in the plan have opted for comprehensive investment advice services. The company also reported that 47% of participants have increased their contributions by an average of 89%. The average contribution level is 4% in the plans, up from 2% before the plan was adopted.
The results are based on enrollees in RightPath, a plan launched in late 2004. There are currently 50 such plans with $200 million in assets.Overall plan participation is up 26% as well, according to the company.
The Invesmart news release credited the program’s enrollment meeting content with contributing to the increases. “We approach the enrollment meeting with a mindset that our responsibility is to educate each participant to become a sophisticated consumer who will make the right decision if provided the right information at the right time,” said Christian Echavarria, founder and SVP of Invesmart in the announcement .