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 Escalation
If they were automatically enrolled into a defined contribution plan, 77% say they would remain in the plan.
Alongside numerous changes, the bill seeks to eliminate the current 10% cap on automatically-increased deferral rates of employees who are automatically enrolled in a plan.
Of those who do seek retirement investments advice, financial advisers are the most utilized source, according to a survey by Betterment.