How can we help plan sponsors increase contributions from participants who were auto-enrolled, or who are financially stretched?
Two top reasons workers don’t participate in a retirement plan are (1) feeling financially stretched and (2) a lack of willpower or understanding1. The advent of auto-enroll has created a new “extra-disengaged” segment that is harder than ever to reach. Participants want guidance that puts retirement in the context of their other financial priorities, such as credit card debt, buying a house, or saving for college.
Retirement decision guidance needs to help participants prioritize and budget between retirement and their competing financial priorities. To overcome procrastination and inaction providers will need to further simplify the participant experience, and provide tools that motivate and guide.
As an attendee, you benefit from:
- Accessing insights from CEB’s 2016 survey of 750 plan participants
- Learning from best practice case studies of industry leaders
- Participating in an unmatched peer network that collaborates on shared issues