Auto Helping Employees to Better Retirement Outcomes. The Plan Sponsor University (TPSU) held a Fiduciary Education Program in Glendale, Arizona at the Thunderbird University School of Global Management. Fred Barstein, Founder, and CEO of the Plan Sponsor University (TPSU) discussed Auto Enrollment and Auto Escalation with Annette Lien, Human Resources Manager at the conclusion of the Fiduciary Education Program. Ms. Lien discussed the results experienced in the use of Auto-Enrollment and Auto-Escalate at their professional real estate firm.
Ms. Lien’s firm has been using some of the features that are frequently described by The Plan Sponsor University as components of The Ideal Plan. The Ideal Plan is no secret to TPSU Program attendees. Starting in 2013, The Plan Sponsor University has discussed the benefits of using the Automatic in 401k plans and 403b plans. During the Fourth Session of every TPSU Program, Plan Sponsors discuss What is Working in their own 401k Plan.
In the case of this program, Ms. Lien describes the success that her organization has experienced in offering Auto-Enrollment and Auto-Escalation.
Auto features have helped many plan participants to build a larger retirement savings account without spending time on traditional education or training. It is not too late for any plan to incorporate these features into the retirement plan.
