“Rather than simply provide employers access to data, we rely on our experience to provide them answers to key questions,” said Rick Ayers, director of Plan Sponsor Services, in a press release. “We expanded our online, real-time reports to identify four opportunities to encourage increased employee participation.” These include notifying employers of employees who do not contribute to their 401(k) plan, contribute less than the national average, who do not specify investment choices, and who are over 50 and are eligible to make catch-up payments.
“It’s a ready-made system for employers to identify and provide employees the information they need to gain maximum benefit from their plans,” said Ayers in the announcement. “Our online, real-time reports and education materials eliminate the guesswork.”
Securian Retirement Services ( www.securian.com ), a unit of Minnesota Life Insurance Company, manages more than $7 billion in assets for 3,300 retirement plans and over 250,000 participants nationwide, the company said.