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

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.

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