Products May 1, 2004
Non-Participant Statements Used As Recruiting Tool
January 29, 2002 (PLANSPONSOR.com) - A retirement
services provider has come up with a new idea to convince
reluctant employees to join their employer's plan -a
"non-participant" statement showing how much they could be
saving.
Reported by Fred Schneyer
According to a company press release, the hypothetical earnings statement from New York Life Benefit Services (NYLB) assumes:
- certain time periods
- certain monthly contributions
- a conservative return.
Getting more employees in the plan has traditionally been a major issue for many plan sponsors.