Auto Features May Hold the Key to Improving Plan Participation Rates. During a recent Fiduciary Education Program delivered by The Plan Sponsor University (TPSU) at Villanova University of greater Philadelphia in Pennsylvania, Participant Education, Auto Enrollment, and Financial Wellness were showcased.
The Director of Administration of a 50 employee law firm attended the program and afterward she discussed some of the challenges associated with mobilizing the entire workforce around the tax-qualified retirement plan.
Based on what was discussed during the TPSU Fiduciary Education Program she will have the firm re-visit the idea of adding the auto enrollment and auto escalation features to their plan. She feels that doing so will have a positive impact on the participation challenges facing the firm.