401k Auto-Escalation Increases Participant Savings
401k auto-escalation is a good way to help participants to save more for retirement. There has been little resistance by plan participants when 401k auto escalation is implemented.
After a recent Plan Sponsor University (TPSU) Fiduciary Education Program at Rollins College, Mr. Steff Chalk, Executive Director, of 401kTV and The Plan Sponsor University interviewed Ms. Sherri Hott, 401k Plan Administrator at her company. The company recently added auto-enrollment and participation increased by 25%. Ms. Hott’s is now focused on adding 401k auto escalation to help participants increase savings rates and account balances.
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