How to Increase Employee Participation in Your Company’s Retirement Plan
All employers want to increase participation in their retirement plans, right?
We may all want it, but do our actions drive an increase in participation? Maybe not…
First thing that any plan sponsor has to do, before they can increase participation, is to define what “increase participation” is for their plan. Maybe, “increase participation” means that you want the people that are already contributing to contribute more. Or maybe, you want more of your employees contributing to the plan. Either way make sure to define what it means to increase participation for you and your plan.