Participation rates were nearly 96% higher for plans—a difference of 40 percentage points—with auto enrollment; the usage of auto escalation was nearly five times higher in plans that employ opt-out options rather than opt-in, and employer match rates increased in 2018, T. Rowe Price found.
Tag: Auto Enrollment
A worker’s tenure plays into his eligibility to join and his level of engagement with retirement plans, and for this reason, shorter average employee tenure is a plan sponsor issue.
If they were automatically enrolled into a defined contribution plan, 77% say they would remain in the plan.
Of those who do seek retirement investments advice, financial advisers are the most utilized source, according to a survey by Betterment.