6 Trends Seen In America’s Retirement Plans
Employer 401k matches and automatic features are a win for all involved. Anyone needing more evidence can find it in a new report that claims over 80 percent of retirement plan sponsors have opted to fund an employee match, up from 69 percent in 2015.
These plans are seeing participation rates 19 percent higher than those that don’t fund a match. Additionally, plans that offer both automatic enrollment and automatic increase features have an 80 percent participation rate.
It’s part of the findings from the annual trends survey released by recordkeeper and retirement plan provider-giant Ascensus on Wednesday, titled Inside America’s Savings Plans.
Ascensus analyzed data across its 47,000 retirement plans and 200,000 HSAs. The Pennsylvania-based company reports, among other things, that Millennials are beginning to outpace older generations in terms of saving, they really like HSAs, and 401ks still fall short of funding goals.
Full Content: 401K Specialist
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